Swedish Fintech-company 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.
- 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.