Michael Hansen, Founder of Capcito

Sweden-based Capcito, a provider of automated finance to SMEs, has secured €7 million in its third funding round and has announced that Schibsted Growth and pan-European VC Ventech have joined their owners SEB Venture Capital and Collector Ventures in supporting the fintech’s 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”, said Michael Hansen, founder of Capcito.

According to the fintech, it has disbursed around €80 million through its automated financing platform. The funding is expected to assist Capcito in its goal of international expansion and in developing its digital product.  Post funding, Dan Ouchterlony from Schibsted and Tero Mennander from Ventech will take up seats on Capcito’s board.

“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”, said Dan Ouchterlony, Investment Manager at Schibsted Growth.

Established in 2015 in Sweden, Capcito aims to simplify the growth financing process for companies and provides three types of SME financing including factoring, invoice discounting and business loans.

“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”, said Tero Mennander, General Partner at Ventech Europe.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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