Global fintech giant Spotcap secures $50 million investment as it looks to expand presence in Australia
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.
Spotcap’s third funding round was led by international private equity firm Finstar Financial Group and brings the fintech startup’s total funds raised to more than $80 million.
The online lender opened an office in Sydney in May last year, and managing director of Spotcap Australia Lachlan Heussler says the startup has been expanding rapidly in Australia.
“Our growth has exceeded our internal expectations,” Heussler tells StartupSmart.
“The month-on-month growth has been extremely high, to the point that January was a record month for Spotcap Australia and globally.
“That surprised us.”
He says some of the new capital will be used to grow operations in Australia.