Holtzbrinck backs Spotcap

Access Industries, a privately held industrial group, also took part in the round. The company plans to use the fresh capital for further expansion in Spain and into other international markets.

Venture capital firms are increasingly targeting fintech companies, including Germany-based online and mobile credit rating agency Kreditech. In June this year, Värde Partners led a $40m series-B round for the Hamburg-based company. Since its inception in 2012, Kreditech has raised around $60m in venture capital and debt funding.

Managing directors Toby Triebel and Jens Woloszczak will continue to run the company from Berlin.

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 in less than five minutes using its own credit scoring technology.

People
Toby Triebel is co-founder of Spotcap.

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• Topics
• Southern Europe
• Expansion
• Technology
• Spain
• Holtzbrinck Ventures