European fintech Novicap bags €200m debt facility from Fasanara Capital
Novicap, a European fintech providing working capital solutions to businesses, has secured a €200 million debt facility from Fasanara Capital.
Novicap lands €200m debt facility
Founded in 2014 and based in Barcelona, Novicap’s technology platform offers credit and Software-as-a-Service (SaaS) solutions to customers including small and medium-sized enterprises (SMEs), mid-market companies and public administrations.
The company claims its platform has exceeded €1 billion in transaction volume since launch.
The fresh funding will be used to accelerate the company’s growth, bolster its credit portfolio and support the development of new product offerings. The facility also enables Novicap to expand its funding capacity to over €1 billion of financing volume per year.
The firm says the backing from Fasanara Capital signals that “while the traditional banking sector may be tightening credit availability in today’s market environment”, its technology-enabled credit solutions “are a reliable alternative”.
Lois Duhourcau, CEO of Novicap, says the funding is a “major step” as the company looks to scale up its credit solutions.
“It enables Novicap to address a part of the market that is underserved by banks,” adds Francesco Filia, CEO of Fasanara Capital.
