Rocket’s Credit Platform Spotcap Receives 13 million Euros for Its Expansion from Access Industries and Holtzbrinck

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.

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New credit lending platform Spotcap for SME's in Spain

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 Germany

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