Novicap inks €200m funding deal with Fasanara Capital
The new cash will enable Novicap to expand its credit platform, lending to firms across Europe.
Novicap, a pan-European fintech lender providing working capital, has secured a €200m funding line from Fasanara Capital.
The new cash will be used by Novicap to expand lending to SMEs, mid-market companies and public administrations and comes at a time the lender has hit €1bn of financing volume.
“Building on the relationship developed over many years, this new funding agreement is a major step in the scale up of our credit solutions,” said Lois Duhourcau, CEO of Novicap.
"Fasanara Capital is a pioneer in our asset class, and counting on their support in today’s markets is an invaluable asset. Together with the resources we have been adding to our SaaS solutions, this places us in an ideal position to help SMEs, mid-market corporates and public administrations manage their working capital,” he added.
The investor has been active in the fintech and alternative finance world in 2022.
It landed a $200m mandate from one of Canada’s largest pension investors, the Ontario Teachers Pension Fund this year and has made lending commitments to Grover and Scalapay among others.