CapitalBox, an online pan-European SME funding platform, has reportedly acquired the Netherlands division of fintech company Spotcap Global, Spotcap NL. According to Business-Money, the acquisition marks a significant milestone in CapitalBox’s “ambitions” o become a leading SME fintech lender in Europe.
Founded in 2015, CapitalBox claims to be the leading European fintech SME lender who provides SMEs across Europe with fast and easy working capital to help them grow their businesses and improve their communities. The company is notably active in six European countries with active plans to expand its footprint across the rest of the European Union (EU).
Speaking about the acquisition, Scott Donnelly, CEO at CapitalBox, reportedly stated:
“By merging our knowledge and the teams, we will be stronger than ever and do a better job financing SMEs who want to grow. This is especially important when our economies transition back to normality and conventional banks continue to underserve the vitally important SME segment. The smaller SMEs we serve are truly the backbone of the economy. In the EU about 98% of companies have less than 50 employees and these provide about 50% of the jobs. The better we can help them with the financing they need to succeed the better off we all are.”
Jens Woloszczak, CEO at Spotcap Global and Christian Müller, CFO at Spotcap Global, added:
“The sale of Spotcap NL marks our final step in focussing Spotcap Global on Lending-as-a-Service via our LendSuite proposition. This separation from Spotcap NL enables both the Direct Lending and Lending-as-a-Service side of the business to concentrate on what they are best in – providing high quality solutions and an outstanding level of service to their customers.”
Spotcap is a Berlin-based, multinational fintech offering digital business lending technology to financial institutions. Since 2018, Spotcap partners with financial institutions, offering a white label end-to-end digital lending platform called ‘LendSuite’ with proprietary features such as our advanced document processing application and modern risk assessment algorithms