Sandra Nolasco & Carmen Marín/Twinco Capital
Twinco secures €50m to power supply chain finance
The debt facility adds to a $12m equity and debt raise in January this year
Supply chain fintech Twinco Capital has secured a €50m debt facility to accelerate its growth across Europe.
Founded by CEO Sandra Nolasco and chief operating officer Carmen Marin, the global supply chain finance solution has provided more than $250m in funding to suppliers in emerging markets, incorporating more than 150 suppliers.
Hoping to address the $2.5 trillion global trade finance gap, which primarily affects SMEs in emerging countries, the Amsterdam and Madrid-based fintech is adding to the $12m it raised at the start of the year in equity and debt with its latest facility with BBVA Spark.
“We are thrilled to partner with BBVA Spark to help customers build truly sustainable and competitive global supply chains,” Nolasco said.
“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.”
BBVA Spark, part of Spanish bank BBVA, is an initiative with more than 800 clients that has facilitated €250m in financing in one year of operation.
Its support adds to backing from investors including Quona Capital, Working Capital Fund, Mundi Ventures and Finch Capita, with BBVA Spark becoming one of Twinco’s key financial partners on the debt side.
The funds will help support the company’s portfolio, growing both its customer base and geographic footprint.
Currently, the company works with more than 100 suppliers in 13 different countries and has tripled in size since launching in 2019.
Engaging with large corporations mostly in retail and apparel, the global supply chain finance solution reduces financing costs and improves supply chain reliability by offering access to affordable funding.
“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,” Marin said.
“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.”