CapitalBox acquires Dutch SME lending business from Spotcap Netherlands



Small and medium-sized enterprises (SMEs) represent 99% of all businesses in the EU, and therefore form the backbone of the European economy. They employ around 100 million people and represent more than half of European GDP. In addition, SMEs provide innovative solutions to challenges such as climate change, resource efficiency and social cohesion and help disseminate this innovation in all regions of Europe.

CapitalBox acquires Spotcap Global

In recent development, the subsidiary of the Ferratum Group CapitalBox, a pan-European online financing platform for small and medium-sized enterprises (SMEs), has acquired the Dutch fintech division based in the Netherlands Global Spotcap as part of its own ongoing European expansion. The parties concerned have agreed not to disclose the purchase price of the acquisition.

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With this development, CapitalBox will have access to Spotcap Netherland (Spotcap NL) market knowledge, the existing network and its underwriting expertise. Additionally, the acquisition of the Dutch lender builds on CapitalBox’s footprint and gives the fintech startup deeper access to the Netherlands, which is home to more than 1.1 million SMEs.

According to the fintech startup, Spotcap NL will continue under the CapitalBox brand. The transition will take place in the coming months. The Spotcap brand will continue to thrive, but only as a loan-as-a-service provider helping financial institutions around the world digitize their SME lending with the LendSuite proposition.

Scott Donnelly, CEO of CapitalBox, said: “By pooling our knowledge and our people, we (CapitalBox) will be stronger than ever and better able to finance SMEs that want to grow. This is especially important when our economies are returning to normal and conventional banks continue to fail to serve the very important segment of SMEs.

Spotcap NL’s existing distribution channels will enable CapitalBox to increase its average loan size at low customer acquisition costs. Ferratum plans to merge Spotcap NL with the Dutch company CapitalBox and then rename the company CapitalBox.

Currently, CapitalBox claims to be the market leader in fintech SME lending in six European countries namely the Netherlands, Sweden, Finland, Denmark, UK and Lithuania. It grants – during the day and via its own credit platform – loans to SMEs of up to € 350,000, for a period of up to 36 months.

Ready as a service

Spotcap is a multinational fintech operating as a direct lender and loan as a service provider. Founded in 2014, it has issued over € 400 million in credit lines as a direct lender to SMEs in the UK, the Netherlands, Spain, Australia and New Zealand.

In addition, she has developed a strong network of partners across the Netherlands involving many specialist consultancy firms for SMEs, including accountants and tax advisers, which connects the company with high quality SMEs to the search for tailor-made and flexible financing.

The company has helped several organizations, such as the BAWAG Group in Austria, Cembra Money Bank in Switzerland, and the now-pay later buy provider Zip Co in Australia and New Zealand, to launch simple finance for SMEs in their respective regions.

Image credit: Spotcap

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