News

Fintech Novicap raises EUR 200 mln

Tuesday 13 December 2022 11:49 CET | News

Spain-based fintech Novicap has received a EUR 200 million debt facility from asset manager Fasanara Capital to accelerate its growth.

 

Novicap said the latest funding agreement with Fasanara implied an additional capacity of over 1 billion euros of financing volume per year for Novicap.

 

Spain-based fintech Novicap has received a EUR 200 million debt facility from asset manager Fasanara Capital to accelerate its growth.

 

Previous fundings

The company has previously raised a USD 1.7 million seed round, which included backers such as Partech Ventures, Techstars Ventures, and Cabiedes & Partners.

NoviCap, which primarily focuses on Southern Europe and particularly Spain, provides a marketplace where SMEs can raise financing by trading their invoices.

Those buying the invoices - investors such as family offices, high-net-worth and corporate investors - are offered a discount, while NoviCap takes a commission on each transaction. The startup also pitches its marketplace as another way for investors to diversify their portfolios.

The European alternative finance market - which includes crowdfunding, peer-to-peer lending, and invoice trading - reached EUR 3 billion in 2014 and has been growing ever since, according to a report produced by the Centre for Alternative Finance at University of Cambridge Judge Business School and professional services organisation EY (formerly Ernst & Young).

 

What does Novicap do?

Novicap is a European fintech focused on providing end-to-end working capital solutions to SMEs, mid-market corporates, and public administrations. Through its proprietary technology platform, it offers Credit and SaaS solutions that enable customers to drive their business forward. Novicap actively supports thousands of businesses to help them deliver impact for their stakeholders.


Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fintech, e-invoicing, funding, lending, investment
Categories: Banking & Fintech
Companies: Fasanara Capital, Novicap
Countries: World
This article is part of category

Banking & Fintech

Fasanara Capital

|

Novicap

|
Discover all the Company news on Fasanara Capital and other articles related to Fasanara Capital in The Paypers News, Reports, and insights on the payments and fintech industry: