Spotcap already operates in the UK, the Netherlands, Spain and Australia, and the expansion into our fifth market is Spotcaps opportunity to contribute to the growing New Zealand fintech landscape. Investment in the fintech sector has grown from A$1.8 billion to A$24 billion worldwide in the last five years.2 With its favourable regulatory framework, New Zealand is on the front foot: boasting a 1,117 per cent year-on-year growth rate for alternative finance funding3. Not only one of the fastest growing alternative finance markets across the Asia-Pacific region, the local market penetration is also roughly five times that of Australia4. Heartlands investment in Spotcap demonstrates the banks commitment to supporting innovative fintech solutions. For Spotcap, the partnership enables its Australian operations to accelerate their growth plans whilst the company executes its entry into the New Zealand market. CEO of Heartland Bank, Jeff Greenslade, said: Our partnership with Spotcap highlights Heartland Banks commitment to fintech and digital banking, in line with both our own internal offerings and our investments in the sector. We are delighted to gain further exposure to online SME lending and look forward to working with Spotcap to grow its Australian operations. Spotcap grew its Australian loan book by 450 per cent from December 2015 to December 2016, has raised over NZ$115 million (equivalent) in equity and debt funding, and issued more than NZ$95 million (equivalent) in credit to SMEs around the world. For further information, please visit: www.spotcap.co.nz About Spotcap Spotcap provides flexible and accessible small business financing, allowing entrepreneurs to focus on what matters - their business.
As with any financial transaction, it’s critical that business owners do advances, or receivables factoring, we work hard to find a home for your business’ financial needs. With us you get the financial strength of a publicly traded financial the process started today. Don’t let the fear of a long approval about your credit score. Even so, before applying for a business loan, it is still important that you take steps to in less than an hour, and it can be reviewed and approved within 24 hours of submission. However, it still only represents less than great – as always!