Fintech challenger Capcito takes in EUR 7m for international expansion

Fintech challenger Capcito takes in EUR 7m for international expansion

Sep 4, 2019

Fintech-company Capcito is automating financing to SMEs with a digital platform. Capcito has closed an investment in the amount of EUR 7 million. Schibsted Growth and pan-European VC Ventech have joined owners SEB Venture Capital and Collector Ventures in support of Capcito’s next stage of growth.

In an increasingly competitive industry, Capcito has gained significant traction in the past 12 months through fast growth and a 500% increase in active clients. Thus far ~EUR 80 million have been paid out to growing businesses through Capcito’s automated financing platform.

“There is an obvious demand among growing businesses for a costworthy, flexible and digital provider of working capital to small businesses”, says founder Michael Hansen on the firm’s competitive advantage and growth.

“One of the biggest obstacles for companies to develop and grow is access to working capital, and the available alternatives are seldom costworthy or transparent flexible enough. I am convinced this is why we are growing rapidly in an industry which is highly competitive but contains lots of old-fashioned players”, says Hansen.

Capcito’s credit assessment is automated, which means that an available credit amount is calculated instantly – based on real-time data from an invoice- or accounting software. So far 6,000 businesses have connected and are profiting benefitting from access to a pre approved credit facility, factoring and invoice discounting services.

“One of the biggest obstacles for companies to develop and grow is access to working capital, and the available alternatives are seldom costworthy or transparent flexible enough. I am convinced this is why we are growing rapidly in an industry which is highly competitive but contains lots of old-fashioned players”

- Michael Hansen

“Capcito can help businesses and entrepreneurs with working capital, in a completely new way. Finally, things are happening within the fintech for b2b space, both in Sweden and internationally. We want to be a part of that transformation”, says Dan Ouchterlony, Investment Manager at Schibsted Growth.

“We believe Capcito is positioned to change the financing marketplace with their concept of automated financing – and that is a journey Ventech wants to be a part of. I look forward to helping Capcito facilitate its international expansion and continue its exponential growth”, says Tero Mennander, General Partner at Ventech Europe.

In connection with the investment, Dan Ouchterlony from Schibsted and Tero Mennander from Ventech will take up seats on Capcito’s board.

This capital injection enables Capcito’s international expansion and further sharpening of its digital product.

About Capcito’s products

Capcito currently offers three types of financing to SMEs: factoring, invoice discounting and business loans. The unique thing about Capcito is its digital financing platform with automated credit assessments. This means that a dynamic credit limit is calculated instantly when an invoicing- or accounting software is connected with the platform. 6,000 businesses have already connected to Capcito, and thus have access to a credit which is continuously refreshed based on real-time data – and doesn’t cost anything when not used.

About Capcito

Capcito was founded in 2015 by serial entrepreneur and investor Michael Hansen to radically simplify the process of securing growth financing for companies, together with co-founders Mattias Axlind, Henrik Dyberg and Niklas Möller. Investors are Galjaden Invest, SEB Venture Capital, Collector Ventures, Ventech and Schibsted Growth.

About Ventech

Ventech, Europe’s leading pan-European venture capital firm, invests in high-growth European startups with activities in the digital economy (Enterprise Software, Deep Technology, Marketplaces and Media) through its local offices in Paris, Munich and Helsinki. With more than 900M€ raised since 1998, Ventech has invested in over 150 companies in Europe, China, Russia and in the US.

About Schibsted

Schibsted combines the long and proud tradition of a publishing house dating all the way back to the 19th century, with digital innovation and entrepreneurship. The enterprise includes companies such as Blocket, Aftonbladet, Svenska Dagbladet, Lendo, Prisjakt and TV.nu.