“Online business lender Spotcap has secured $20 million in funding from Heartland Bank, which has told the New Zealand stock exchange one of its key strategic priorities is "growing its presence in Australia".”
Company Profile
The Spotcap story
Spotcap fuses a bold entrepreneurial spirit with an ambitious objective: to empower SMEs with tailored finance, allowing them to focus on what really matters – their business. Combining cutting-edge proprietary technology with an experienced team of credit specialists, we make business finance accessible in a way that’s new and extremely versatile. Our vision became reality when Spotcap launched in 2014.
To date we have secured more than $200 million in funding, we operate in five countries, and we’re enabling thousands of businesses to realise their own ambitions.
Spotcap employs more than 120 people and is headquartered in Berlin (Germany) with a local presence in Spain, the UK, the Netherlands, Australia and New Zealand.
The Spotcap mission
Empowering SMEs with tailored finance, allowing them to focus on what really matters – their business.
How Spotcap helps businesses
Despite driving innovation and employment, many small and medium-sized businesses in New Zealand find it hard to borrow from traditional financial institutions. Through our unique approach of utilising technology to simplify the application and assessment process, Spotcap is making business finance accessible to the SMEs that are the backbone of our economy.
Spotcap at a glance
Our Managing Director
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Timeline
Press coverage
“European-based online lender Spotcap is launching in New Zealand, promising to shake up the small business lending market. The company has also partnered with NZX-listed bank Heartland, which will provide Spotcap Australia with a $A20 million funding facility.”
“An online lender to small and medium-sized businesses has launched with support from Heartland Bank. Spotcap, based in Berlin, provided SMEs with unsecured loans between $10,000 and $250,000.It assessed prospective businesses through an algorithm it claimed provided "deep insight" into the financial condition of a business, with loans only taking five minutes to apply for.”
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