Twinco Capital, a sustainable fintech firm headquartered in Spain, has revealed its acquisition of a €50M debt facility from BBVA Spark, the startup-focused financial services unit within BBVA.
Twinco Capital declared that the newly acquired facility will empower its clientele to establish sustainable and competitive global supply chains.
Founded by Sandra Nolasco and Carmen Marín, Twinco represents one of the few women-led fintech companies in Europe. Nolasco brings over two decades of international banking experience from prominent European commercial banks, while Marín contributes 16 years of management expertise in equity investing and project finance, gained at Banco Santander.
There exists a significant $2.5 trillion (€2.36 billion) global trade finance gap, primarily impacting small and medium enterprises (SMEs) in emerging countries, hindering their access to new business opportunities. Twinco addresses this finance gap by facilitating financial support for businesses.
The company pioneers sustainable supply chain finance for purchase orders, extending over $250 million (€236 million) in funding to suppliers in emerging markets.
Nolasco expressed enthusiasm about the collaboration with BBVA Spark to aid customers in establishing genuinely sustainable and competitive global supply chains. She emphasized the importance of collaborating with such reputable financial institutions to tackle the significant challenges that Twinco aims to resolve, such as closing the trade finance gap.
“This facility will bolster the company’s portfolio growth, fostering expansion in both customer base and geographical reach,” Nolasco added.
About the Investors & Partners
The fintech startup, financed by Quona Capital, Working Capital Fund, Mundi Ventures, and Finch Capital, has robust financial support.
In addition to BBVA Spark, the firm has established debt financing partnerships with EBN Banco de Negocios, a longstanding supporter since the fintech’s inception, and Zubi Capital.
Roberto Albaladejo, head of BBVA Spark, expressed strong support for Twinco, praising Sandra and Carmen for their innovative approach to global supply chain finance that integrates environmental and social criteria.
Established in July 2022, BBVA Spark has rapidly grown, amassing over 800 clients and delivering €250 million in financing within a year. The unit operates directly from the bank’s balance sheet and doesn’t have a maximum funding limit.
Twinco’s Offerings: A Comprehensive Overview
Twinco Capital collaborates with major corporations, primarily in the retail and apparel sectors, extending early-stage funding to their suppliers worldwide. Through an efficient and transparent process, Twinco offers suppliers up to 60% of their purchase order value within a rapid 48-hour timeframe.
Distinguished by its innovative risk model, Twinco amalgamates traditional financial risk assessment with business performance and ESG data. Leveraging machine learning (ML), the company evaluates the strength and quality of commercial relationships between large buyers and suppliers.
Marin, the COO of Twinco Capital, emphasizes the value the company delivers to its customers, which stems from its distinctive funding solution combined with comprehensive business intelligence, offering a holistic view of supply chain risk.
“The technological integration and machine learning provide indispensable insights into the commercial, financial, and ESG performance of suppliers, equipping our customers with a cutting-edge supply chain risk management tool,” adds Marin.
Since its inception in December 2019, Twinco Capital has experienced remarkable growth, tripling its business each year. During the pandemic, the company played a vital role in global trade by funding millions of purchase orders for over 150 suppliers across 13 countries.