Rocket Internet’s newest fintech company enters the Dutch market
Berlin, March 9, 2015 – Six months after its launch in Spain, the Rocket Internet backed online credit platform Spotcap expands to the Netherlands. With the launch in the Dutch market Spotcap kicks off its global roll out plan and its year of expansion. The financial startup aims to become the leading global online platform for short-term business loans.
Over the past six months the financial technology company has provided more than 1 million euros in credit lines, serving hundreds of Spanish businesses. With its launch in the Dutch market the fintech company continues its global ambitions and enters a market with a strong demand for alternative financing solutions.
SMEs are the backbone of the Dutch economy and have a higher share of employment and value added than large businesses (60% in each). However, they still have difficulties to obtain capital to grow. More than 38% of all loan applications get rejected. The mark-up costs for small loans reached an all-time high of 44%. According to the Dutch Chamber of Commerce over 60% of small business owners search for alternative business financing.
Spotcap’s rapid expansion reflects the high demand by small businesses for fast and flexible financing solutions and the significant growth potential for the alternative lending landscape. Toby Triebel, co-founder and CEO of Spotcap adds, “Our goal is to offer our credit lines to all small businesses in promising markets where financing alternatives are needed. 2015 is going to be the year of international expansion. We aim to become the global leader for short-term online business loans.”
Spotcap provides online business loans to small and medium sized enterprises. The company leverages cutting-edge technology to meet the needs of small businesses more efficiently than traditional lenders. Spotcap uses an innovative credit scoring technology that directly evaluates real-life business data to provide fast and flexible financing.
Originally published March 9 2015 , updated September 27 2018