Only several weeks after its launch, online credit startup Spotcap announces that it has picked up 13 million Euro from a group of investors that includes Access Industries and Holtzbrink Ventures. Though funded by German and British money, the startup targets the Spanish market and currently claims a team of more than 30 employees.
With this funding, the company says that it intends to expand geographically and in terms of products, although there is little information about those plans at the moment.
Spotcap is a pretty basic credit service, offering loans of up to 50,000 Euro to businesses. The service was launched in September by the duo of Toby Triebel and Jens Woloszczak, who remain in Berlin, while Pablo Pastega manages local operations in Madrid.
The company appears to be the latest project from German firm Rocket Internet, which operates by creating companies and then aggressively taking them global. This approach has put the company’s founders, the Samwer Brothers, on track to becoming billionaires when it announces an IPO later this year.