Madrid, Spain-based supply chain fintech company Twinco Capital raised EUR 50 million in funding. The company announced the investment on October 27, 2023. The company received the funding in debt from BBVA Spark.
Purpose of financing for Twinco Capital
With the debt funding, the company seeks to accelerate growth. With the debt funding, BBVA Spark becomes one of Twinco’s key financial partners and joins EBN Banco de Negocios. The latter has been supporting the Company from its inception and Zubi Capital.
What the company’s official has to comment
Sandra Nolasco, CEO of Twinco Capital, said, “We are thrilled to partner with BBVA Spark to help customers build truly sustainable and competitive global supply chains. It is only by partnering with this calibre of like-minded financial institutions that we will be able 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.”
In addition, Carmen Marin, COO of Twinco Capital, said, “The value added Twinco is providing to customers stems from the combination of its unique funding solution with business intelligence that provides a holistic overview of supply chain risk. Technology and machine learning provide invaluable data insights on commercial, financial and ESG suppliers’ performance, giving our customers a state-of-the-art supply chain risk management tool.”
What does the lead investor have to comment
Roberto Albaladejo, head of BBVA Spark, further said, “We are very pleased to support Sandra and Carmen, two entrepreneurs who, with Twinco, have reinvented the way supply chains are financed on a global scale and who have also incorporated innovative environmental and social criteria into their supplier financing model.”
The company is an initiative-driven firm with more than 800 clients and has facilitated EUR 250 million in financing in just one year of operation.
About the company
Founders Carmen Marin and Sandra Nolasco launched the company. The company is growing rapidly and has already incorporated more than 150 suppliers located across 13 different countries. Since its inception, Twinco Capital has grown by multiples of 3, supporting global trade during the pandemic and funding millions of purchase orders. Twinco is a venture-backed business with investors such as Quona Capital, Working Capital Fund, Mundi Ventures, and Finch Capital. Twinco Capital works with large corporations, mostly in the retail and apparel sectors, and provides funding to their suppliers worldwide. It further advances up to 60% of the purchase order value upfront and pays the remainder upon delivery.
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