Madrid, Berlin: Rocket Internet continues its focus on FinTech and launches Spotcap. The new online loan platform, that will be launched in Spain first ,will provide"rapid and flexible financing for SMEs".
The application process for these loans (from 500 to 50.000 euros ) should not take longer than 5 minutes, according to the Spotcap’s advertisements.: one’s credit-worthiness is checked with a so-called scoring technology that will evaluate the data online that the applicant provides online. Where the lending money comes from has not been disclosed by the company so far.
A similar test concept was developed by the Hamburg Startup Kreditech, which was funded by the Samwer Global Fund Founders Capital.
Spotcap will be managed from the Berlin head quarters, by its founders Toby Triebel and JensWoloszcak and by Managing Director Pablo Pastega, In GermanyRead More