Supply chain finance FinTech Twinco Capital has raised €3m in a new funding round.
+Simple investor Mundi Ventures led the startup’s investment round with participation of Finch Capital and a smattering of unnamed angel investors, TechCrunch reported. Finch Capital has previously backed enterprises like Goodlord and PerfOps.
Founded in 2016, the Spain and the Netherlands-based venture offers a solution to make it easier to access supply chain funding.
“The financing of global supply chains is expensive and inefficient, the burden of the cost is mostly borne by the suppliers and in particular by those that are SMEs in emerging markets,” Sandra Nolasco, co-founder and CEO at Twinco Capital, told TechCrunch.
“Take any global supply chain, such as apparel, automotive, electronics etc. Exporters in countries like Bangladesh, China or Vietnam that have been supplying European companies for years, with stable commercial relationships. However, their creditworthiness is still measured only on the basis of annual financials, making access to competitive liquidity a major obstacle for growth.”
Copyright © 2021 FinTech Global