Twinco Capital, a Madrid, Spain-based supply chain fintech company, secured an additional €50m facility with BBVA Spark.
The company intends to use the funds to accelerate growth.
Led by Sandra Nolasco, CEO, and Carmen Marin, COO, Twinco offers a sustainable supply chain finance solution that covers purchase order funding and has provided over $250 million in funding to suppliers in emerging markets.
The company is a venture-backed business, with investors such as Quona Capital, Working Capital Fund, Mundi Ventures, Finch Capital. On the debt side, BBVA Spark will become one of Twinco’s key financial partners joining EBN Banco de Negocios who has been supporting the company from its inception, and Zubi Capital.
Twinco Capital engages with large corporations—mostly in the retail and apparel sectors—and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery. The process is designed to be a fully transparent, no-hassle experience that provides the suppliers with funding for its purchase orders within 48 hours. It uses machine learning to assess the quality and strength of the commercial relationships between these large buyers and their suppliers.
The company is growing rapidly and has already incorporated more than 150 suppliers, located in 13 different countries. Since launching in December 2019, Twinco Capital has grown by multiples of 3, supporting global trade during the pandemic and funding millions of purchase orders.
FinSMEs
27/10/2023