Barcelona, March 13th 2023 – Novicap, the European Fintech focused on providing end-to-end working capital solutions to SMEs, mid-market corporates, and public administrations, quadrupled its volume of activity in 2022 compared to its pre-pandemic figures, reaching €1.3 billion in financing for Spanish and Dutch companies.
Despite the rise in interest rates and the excess liquidity derived from the ICO lines, Novicap had a very satisfactory 2022, increasing its loan portfolio by 37% year-on-year and closing the year with a positive EBITDA. Turnover from its SaaS supplier payment solutions also grew 136% year-on-year, driven by the consolidation of Dynamic Discounting, its early payment discounting programme for suppliers.
Additionally, at the end of the year, the fintech reached a €200 million financing agreement with Fasanara Capital, the London-based asset manager specialized in the fintech sector, for its working capital financing solutions. This alliance enables Novicap to increase its financing capacity to more than €1 billion per year and to continue developing leading solutions in its markets. Fasanara Capital has thus become one of the main funders of Novicap‘s platform, after progressively increasing the volume of its contributions since 2017.
Over the past year, the company has supported thousands of businesses across Europe that, underserved by banks and looking for digital solutions, have turned to Novicap‘s business financing and working capital optimisation services. Since its creation, the entity has supported more than 2,500 companies across Europe, with the resulting impact for their shareholders, employees and suppliers, by shortening by more than 65 days on average the time it takes for these companies to collect their invoices.
Following the appointment of Loïs Duhourcau as CEO of the company, Novicap has continued to renew its executive team, combining a policy of internal promotion with the incorporation of top-level profiles from the banking and Fintech sectors. In fact, over the course of 2022, it tripled the presence of women in the management team and, at the start of 2023, it has incorporated Julián Villalba, who previously worked as managing partner of Finsurtech at Atlax 360, in the position of operations and risk director, and Joaquín Jiménez, who was managing partner at Finamco, as commercial director, with whom it intends to continue strengthening collaboration with other financial and technological entities.
Loïs Duhourcau, CEO of Novicap, says that “despite adverse external conditions, 2022 has been a successful year for Novicap. We faced a year marked by rising interest rates and slower economic growth. While banks continue to tighten lending criteria, we remain committed to helping more and more customers through our solutions. With the agreement with Fasanara and the growth of our SaaS payment tool, we are ideally positioned to meet our goal of providing a complete working capital management solution to businesses and public administrations.”
Novicap is a European Fintech focused on providing end-to-end working capital solutions to SMEs, mid-market corporates, and public administrations. Through our proprietary technology platform, we offer Credit and SaaS solutions that enable our customers to drive their business forward. Novicap actively supports thousands of businesses to help them deliver impact for their stakeholders.
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