{"id":33234,"date":"2023-10-20T14:30:21","date_gmt":"2023-10-20T14:30:21","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/global-fintech-giant-spotcap-secures-50-million-investment-as-it-looks-to-expand-presence-in-australia-startupsmart\/"},"modified":"2023-10-20T14:30:21","modified_gmt":"2023-10-20T14:30:21","slug":"global-fintech-giant-spotcap-secures-50-million-investment-as-it-looks-to-expand-presence-in-australia-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/global-fintech-giant-spotcap-secures-50-million-investment-as-it-looks-to-expand-presence-in-australia-startupsmart\/","title":{"rendered":"Global fintech giant Spotcap secures $50 million investment as it looks to expand presence in Australia – StartupSmart"},"content":{"rendered":"
\"spotcap\"<\/div>\n

Global online lending platform Spotcap has closed a $50 million funding round and will be using some of the capital injection to grow its operations in Australia.<\/p>\n

Spotcap\u2019s third funding round was led by international private equity firm Finstar Financial Group and brings the fintech startup\u2019s total funds raised to more than $80 million.<\/p>\n

The online lender opened an office in Sydney in May last year, and managing director of Spotcap Australia Lachlan Heussler says\u00a0the startup has been expanding rapidly in Australia.<\/p>\n

\u201cOur growth has exceeded our internal expectations,\u201d Heussler tells StartupSmart.<\/i><\/p>\n

\u201cThe month-on-month growth has been extremely high, to the point that January was a record month for Spotcap Australia and globally.<\/p>\n

\u201cThat surprised us.\u201d<\/p>\n

He says some of the new capital will be used to grow operations in Australia.<\/p>\n

\u201cIt will be used to grow our existing operations in the countries we operate, improve our product offering and continue to ramp the business up, of which Australia is becoming an increasingly significant part,\u201d Heussler says.<\/p>\n

Growth of fintech in Australia<\/b><\/p>\n

He says this investment lends credibility to online lending and fintechs in Australia.<\/p>\n

\u201cThis absolutely validates that these products are needed in the market and we are providing services to SMEs that are needed,\u201d Heussler says.<\/p>\n

\u201cThis validates that we are sitting on top of a potentially very, very large business that will continue to grow over the next 12-18 months.\u201d<\/p>\n

Fintech in Australia is starting to find its feet and could be set for big things, he says.<\/p>\n

\u201cWe\u2019re just scratching the surface and getting started with fintech in Australia,\u201d Heussler says.<\/p>\n

\u201cThe industry is on the verge of something great and continued investment is needed in order to reach its full potential.\u201d<\/p>\n

Leaders pulling ahead<\/b><\/p>\n

A handful of leaders are emerging in the online lending space in Australia.<\/p>\n

\u201cNow there are four or five established players in the market in Australia and hopefully that\u2019s where things will be for the next little while,\u201d Heussler says.<\/p>\n

\u201cThe barriers to entry are increasing with the amount of capital existing players are now playing with. The online lending industry as a whole has got so much better and we\u2019re only just starting on the journey.\u201d<\/p>\n

For Spotcap in Australia, a big part of this journey will be putting their offering on show.<\/p>\n

\u201cNow it\u2019s up to us to increase the awareness of these products in the market,\u201d he says.<\/p>\n

\u201cThere are still hundreds of thousands of small businesses that don\u2019t know we\u2019re out there.<\/p>\n

\u201cWe have the aim of being the global leader in short-term and business financing.\u201d<\/p>\n

Follow StartupSmart on <\/i>Facebook<\/a>, <\/i>Twitter<\/a>,\u00a0and <\/i>LinkedIn<\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Global online lending platform Spotcap has closed a $50 million funding round and will be using some of the capital<\/p>\n","protected":false},"author":2,"featured_media":62493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/33234"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=33234"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/33234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/62493"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=33234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=33234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=33234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}