Twinco Capital, a supply chain fintech focused on sustainable supply chain finance, has secured a €50 million facility with BBVA Spark, a move aimed at helping bridge the $2.5 trillion global trade finance gap, which disproportionately affects SMEs in emerging countries.
Twinco Capital, led by two female entrepreneurs, stands out as one of the few high-growth fintech firms in Europe. Their innovative approach combines purchase order funding with sustainability criteria, having already provided over $250 million in funding to suppliers in emerging markets.
Roberto Albaladejo, head of BBVA Spark, expressed his enthusiasm for supporting Twinco and its founders, stating that they have redefined the global supplier financing model by incorporating innovative environmental and social criteria.
This partnership positions BBVA Spark as one of Twinco’s key financial partners alongside EBN Banco de Negocios and Zubi Capital. Twinco has also garnered support from venture capital investors such as Quona Capital, Working Capital Fund, Mundi Ventures, and Finch Capital.
Sandra Nolasco, CEO of Twinco Capital said: “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. This facility will support the company’s portfolio growth, expanding both the number of customers and geographies.”
In a press release, the company said it is growing rapidly and has already incorporated more than 150 suppliers, located in 13 different countries. Since launching in December 2019, Twinco Capital has grown by multiples of 3, supporting global trade during the pandemic and funding millions of purchase orders.
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Twinco Capital, co-founded by Sandra Nolasco as CEO and Carmen Marín as COO, stands out as a European fintech company with a focus on growth, and notably, women hold top leadership positions. Twinco Capital distinguishes itself by offering the market’s first sustainable supply chain finance solution, covering purchase order funding.
On the other hand, BBVA Spark was established in July 2022, targeting the financial needs of startups. This initiative supports innovative, rapidly growing companies by providing various financing options, including both short-term and long-term solutions.