Fintech Novicap has just raised €200 million debt facility for its credit platform. The company is now planning to accelerate growth and continue to help organizations grow with its end-to-end working capital solutions.
With market anxiety rising, inflation on the up, and a generally uncertain socioeconomic outlook, working capital financing is regarded by many as a robust alternative offering portfolio diversification and shorter durations. It’s not always been easy to access though, thanks to heavy operational requirements – and that’s what companies like Novicap have been changing.
Now, the Barcelona-based fintech firm has raised funding in a debt facility to help it expand and enable it to provide its end-to-end working capital solutions to more SMEs, mid-market corporates, and public administrations.
Novicap’s tech platform offers credit and SaaS solutions that enable its customers to fuel business growth. It digitally provides origination, underwriting and servicing capabilities to SMEs, mid-market corporates, and public administrations.
This new funding goes a long way in reinforcing Novicap’s message to its target customer segments that while the traditional banking sector may be tightening credit availability in today’s market environment, Novicap’s technology-enabled credit solutions are a reliable alternative.
It also marks an important milestone for the city of Barcelona showing it to be a strong startup community, with plenty of potential for the years ahead to both be a part of growing Europe’s entrepreneurial ecosystem, as well as the birthplace of powerful firms.