Online business lender Spotcap has issued more than €120 million in credit lines to small and medium-sized enterprises (SMEs).

Jens Woloszczak, Spotcap Founder and CEO: “We’ve experienced significant growth over the past three years, which is a testament to the fundamental need SMEs have for flexible and accessible financing. With close to 60 percent of our current loan book being attributed to our global partner network, it’s fair to say our partners have had a significant hand in our success,”

In the next 12 months, Spotcap will continue to work with its intermediary partner network to increase its global market share. The business will also focus on strengthening and building strategic partnerships.

The company now operates in Spain, the Netherlands, the United Kingdom, Australia and New Zealand. Spotcap leverages its proprietary credit platform and risk algorithm to provide credit lines and loans to SMEs.