Spain’s Twinco Capital secures €50m debt facility from BBVA Spark
Madrid-based supply chain fintech Twinco Capital has secured an additional €50 million debt facility from BBVA Spark as it looks to accelerate its growth.
Twinco Capital secures €50m debt facility
Co-founded by Sandra Nolasco (CEO) and Carmen Marín (COO) in 2019, Twinco Capital claims to offer “the first sustainable supply chain finance solution in the market that covers purchase order funding”.
The company works with large firms in the retail and apparel sectors to offer funding for their suppliers across the world – advancing up to 60% of the order value upfront, with the remainder paid upon delivery. It uses a machine learning model to assess the financial risk of its loans by analysing business performance and ESG data.
Twinco Capital says its has provided more than $250 million in funding to suppliers based in emerging markets since its launch.
Commenting on the deal, Nolasco says that partnering with “like-minded” financial institutions like BBVA will enable the company to “address large-scale challenges like the one Twinco has set out to solve: closing the trade finance gap”.
“This facility will support the company’s portfolio growth, expanding both the number of customers and geographies,” Nolasco adds.
