Swedish fintech Capcito closes €7m funding round
Swedish fintech Capcito has closed its €7 million funding round with help from new investors Schibsted Growth and pan-European VC Ventech.
Capcito’s Michael Hansen, Mattias Axlind, Niklas Möller and Henrik Dyberg
Joining SEB Venture Capital and Collector Ventures, the investors will be helping Capcito to expand globally after a 500% increase in active clients over the past 12 months.
Capcito’s automated credit assessment calculates based on real-time data from an invoice or accounting software.
“One of the biggest obstacles for companies to develop and grow is access to working capital,” says Capcito’s founder Michael Hansen. “The available alternatives are seldom cost-effective, transparent or flexible enough.”
He adds: “I am convinced this is why we are growing rapidly in an industry which is highly competitive but contains lots of old-fashioned players.”
Schibsted Growth’s investment manager Dan Ouchterlony says Capcito is helping entrepreneurs and businesses in “a completely new way”.
“Finally,” says Ouchterlony, “things are happening with the fintech B2B space, both in Sweden and internationally.”
Ouchterlony and Ventech’s Tero Mennander will be joining Capcito’s board as part of the investment.
