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Online lender Spotcap, has announced the closing of its third financing round, raising €31.5 million in funding. The investment was led by private equity firm Finstar Financial Group and included participation from existing investor Holtzbrinck Ventures.
Although based in Berlin, Spotcap operates online lending platforms targeting Australia, Spain and the Netherlands. With the new funding, the firm intends to extend its presence to additional regions as well as using the investment to help finance their existing operation in Australia, Spain and the Netherlands. Having developed credit scoring technology to evaluate loans, Spotcap provides lending to small and medium size businesses.
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