NoviCap is the fintech company that allows small and medium enterprises (SME’s) to access the capital locked in their long-dated invoices. The company recently announced that they achieved break even just three years after initial operations began. This milestone proves NoviCap’s business model to be a huge success. On top of this, it strengthens fintechs position in Spain and finishes 2017 on a high with 340% growth since Autumn 2016.
Federico travella (CEO), Marc Antoni Macia (COO), and Nicolas Overloop (CTO) launched Novicap in 2015, since then it has financed over 2800 operations that have contributed to improve more than one thousand companies’ treasury while offering a staggering 7% profitability to the investors that have taken part.
In Federico Travella’s words, “Staying loyal to our core business model has provided us with the results we were looking for. After three years of learning how the market works and a constant optimisation of our technology, we have already established NoviCap as a core solution to the massive bank concentration and are ready to take on new markets”.
In addition to breaking even, NoviCap has announced a capital increase with a €1M funding round led by two of their key shareholders, Partech Ventures and Techstars Ventures.
Since 2015, the company has raised €3M which has allowed them to strengthen their business model and double its value in only 12 months.
In line with the latest funding round, Travella stated that “the capital injection helped us acquire the necessary resources to make this international expansion happen and should be operational in Northern Europe over the next few months and in the US during the first quarter of 2018”.
In relation to NoviCap’s international expansion, Markus Ament, founder of Taulia (a company valued at over €1.000M) and a key player in the fintech scenario, has joined the board and will be helping to recruit new international partners.
NoviCap is a fintech company founded in 2015 in London that allows SMEs to sell their outstanding invoices quickly while investors benefit by being able to lend money at attractive interest rates. Founded by Federico Travella (CEO), Marc Antoni Macia (COO) and Nicolas Overloop (CTO), it has offices in London and Barcelona and a team of 30 international professionals. NoviCap has raised over €3M in funding from Partech Ventures, Techstars Ventures and ACE & Company amongst others.