Berlin: The need for alternative financial solutions is there. As more and more people follow the path of entrepreneurship or self employment, they find that traditional credit solutions are out of their reach, which means only one thing: getting a loan, even a small one, can make a difference for this growing category of business owners.
This is what the credit platform Spotcap offers; so far, available only in Spain, the service provides small businesses and entrepreneurs with the chance to borrow any amount they want between 500 and 50,000 Euros. A project developed by the FinTech startup Rocket Internet, which also grew up in a business incubator sponsored by institutional investors, Spotcap hopes to contribute more to the development of small businesses.
Now, the small project initiated by Rocket Internet is bound to take flight. Access Industries and Holtzbrinck have just decided to invest 13 million Euros so that the credit platform can be expanded to Germany. When exactly this expansion will take place, it is unknown at the moment, but one thing is certain: Spotcap will face some serious local competition from names such as Kreditup which offers those who are self employed or small entrepreneurs loans varying between 1,000 and 10,000 Euros.
Rocket hopes to gather more interest from potential borrowers by introducing a new P2P lending service, addressed to middle class workers. Offering loans between 10,000 and 150,000 Euros, the new platform is called Lendico and it was created at the end of 2013. Still, to this moment, Rocket continues to be very silent about any other details concerning it.
Also read: http://www.retailintelligencelab.com/blog/2014/9/5/new-credit-lending-platform-spotcap-for-smes-in-spain