Twinco Capital, an Amsterdam, The Netherlands- and Madrid, Spain-based supplier of a provide chain finance answer that covers the manufacturing cycle from buy order to last bill cost, raised $12M in Fairness and debt financing.
The spherical was led by Quona Capital, with participation from Working Capital, Mundi Ventures, Finch Capital, and Zubi Capital (which offered the enterprise debt portion).
The corporate intends to make use of the funds to speed up its growth inside the main sourcing international locations and strengthen its know-how and information capabilities, particularly in relation to ESG.
Led by CEO Sandra Nolasco, and COO Carmen Marin Romano, Twinco engages with giant company companions to scale back financing prices and enhance provide chain reliability by providing their suppliers entry to reasonably priced funding. By its information analytics-powered platform, the corporate engages with giant companies—principally within the retail and attire sectors—and affords funding to their suppliers worldwide, advancing as much as 60% of the acquisition order worth upfront and paying the rest upon supply. The method is designed to be a completely clear, and offers the suppliers with funding for its buy orders inside 48 hours.
Since its inception, Twinco has launched packages serving European and LatAm retailers who purchase greater than $10 billion per yr of manufactured merchandise, principally from SMEs in rising markets. The corporate has onboarded greater than 100 suppliers, situated in 12 completely different international locations together with Bangladesh, China, Pakistan, South Korea, Turkey, Thailand, Vietnam, Indonesia and Spain.
Sandra Nolasco (CEO) is an skilled banker and specialist in commerce finance with a world profession spanning over 20 years in main European industrial banks. Carmen Marín (COO) has over 16 years of administration expertise in each fairness investing and challenge finance at Banco Santander.
FinSMEs
24/01/2023
