Twinco has secured a €50M debt facility from BBVA Spark, BBVA’s unit for startups. | Image source: BBVA’s Press release.
Spain-based Twinco Capital, a green fintech company, announced that it has secured a €50M debt facility from BBVA Spark, BBVA’s unit that offers financial services for startups.
Twinco says the facility will allow it to help its customers create sustainable and competitive global supply chains.
Twinco is a high-growth European fintech company founded by Sandra Nolasco and Carmen Marin. The firm is one of the few women-led fintechs in Europe.
Nolasco has over twenty years of international banking experience in prominent European commercial banks. Meanwhile, Marín has 16 years of management experience in equity investing and project finance from Banco Santander.
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There is a staggering $2.5T(€236M) global trade finance gap that mainly affects SMEs in emerging countries, limiting their ability to access new business opportunities. Twinco helps businesses bridge this finance gap.
The firm offers the first sustainable supply chain finance for purchase orders, providing over $250M (€236M) in funding to suppliers in emerging markets.
“We are thrilled to partner with BBVA Spark to help customers build truly sustainable and competitive global supply chains. It is only by partnering with this calibre of like-minded financial institutions that we will be able to address large-scale challenges like the one Twinco has set out to solve: closing the trade finance gap,” says Nolasco.
“This facility will support the company’s portfolio growth, expanding both the number of customers and geographies,” Nolasco adds.
Investors and partners
The venture-backed fintech firm is backed by Quona Capital, Working Capital Fund, Mundi Ventures, and Finch Capital.
Aside from BBVA Spark, it also has debt financing relationships with EBN Banco de Negocios, which has backed the fintech firm since its inception, and Zubi Capital.
“We are very pleased to support Sandra and Carmen, two entrepreneurs who, with Twinco, have reinvented the way supply chains are financed on a global scale and who have also incorporated innovative environmental and social criteria into their supplier financing model,” says Roberto Albaladejo, head of BBVA Spark.
BBVA Spark was established in July 2022. Within a year, it has amassed over 800 clients and provided €250M in financing. It operates directly from the bank’s balance sheet and has no maximum funding limit.
What Twinco offers
Twinco Capital partners with large corporations, primarily in retail and apparel, to offer early-stage funding to their suppliers around the world. With a transparent and seamless process, Twinco provides suppliers up to 60 per cent of their purchase order value within 48 hours.
Twinco’s unique risk model sets it apart, combining traditional financial risk analysis with business performance and ESG data. It uses machine learning (ML) to assess the strength and quality of commercial relationships between large buyers and suppliers.
“The value added Twinco is providing to customers stems from the combination of its unique funding solution with business intelligence that provides a holistic overview of supply chain risk,” says Marin, COO of Twinco Capital.
“Technology and machine learning provide invaluable data insights on commercial, financial and ESG suppliers’ performance, giving our customers a state-of-the-art supply chain risk management tool,” Marin adds.
Twinco has experienced rapid growth since its launch in December 2019, tripling its business each year. It has supported global trade during the pandemic by funding millions of purchase orders for over 150 suppliers in 13 countries.
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