Holtzbrinck backs Spotcap’s €31.5m round

Spotcap plans to use the fresh capital for international expansion and to finance its online business lending activities in Spain, the Netherlands and Australia.

Holtzbrinck is currently investing from its sixth fund, Holtzbrinck Ventures Fund VI, which reached its hard-cap of €285m in January 2015. The VC recently reinvested in its portfolio company ZenMate, with US VC Bessemer joining the group of investors.

Previous funding
In March 2015, Kreos Capital provided €5m in debt capital for Spotcap's series-B. The series-A in October 2014 saw Holtzbrinck, Rocket Internet and privately held industrial group Access Industries provide €13m.

Company
Founded in August 2014, Spotcap is an online loan platform launched by Berlin-based start-up accelerator Rocket Internet. It claims to offer loans of €500-50,000 to small business owners in less than five minutes using its own credit-scoring technology. In addition to the German capital, the company's 70 employees work in offices in Madrid, Amsterdam and Sydney.

People
Spotcap – Toby Triebel (CEO).

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• Topics
• Expansion
• DACH
• Financials
• Germany
• Venture