Twinco Capital has received a €50 million debt facility from BBVA Spark for supply chain financing.
Twinco, a European Fintech founded by female entrepreneurs, says it will use the funding to provide the first sustainable supply chain finance solution in the market.
Twinco CEO Sandra Nolasco said they will be able to address large-scale challenges like closing the trade finance gap.
“This facility will support the company’s portfolio growth, expanding both the number of customers and geographies.”
We are very pleased to support Sandra and Carmen [Marin],” two entrepreneurs who have reinvented trade finance, with Twinco, said Roberto Albaladejo, head of BBVA Spark.
Twinco reports VC equity investors including Quona Capital, Working Capital Fund, Mundi Ventures, and Finch Capital.
BBVA Spark will join EBN Banco de Negocios and Zubi Capital in providing debt capital.
Twinco Capital works with large corporations—mostly in the retail and apparel sectors—and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery.
Twinco says the key to its success is its risk model, which incorporates business performance and ESG data.
Twinco reports over 150 suppliers located in 13 different countries.
Twinco is based in Amsterdam and Madrid and was founded by Nolasco in 2019.