NoviCap enters the Dutch market with digital SME finance solution

Novicap, the invoice finance platform headquartered in London and the market leader in Spain, announces the start of their pan-European expansion with the launch of the Dutch market. This expansion embodies Novicap’s mission to digitise the SME finance industry by building the first SME-centric, fully digital and cost-effective invoice finance solution. In The Netherlands, Novicap is partnering with Exact Software with which it has developed a unique integration. The partnership is being beta tested with thousands of Exact users and is announced today at Exact Live, the largest SME industry event in The Netherlands.

Novicap CEO, Federico Travella, comments: “We are really excited to enter the Dutch market and partner with Exact, the leading accounting software player in The Netherlands. For way too many years, SMEs have been under-served because of a lack in technology, leading to inefficient business models, high prices for SMEs, and a generally poor customer experience. Novicap’s technology allows SMEs to finance their outstanding invoices directly from their Exact account – a radically better experience with much lower transaction costs.”

SMEs are the growth engine of Europe but face long payment terms when trading with corporate clients. With cash locked in outstanding invoices, access to short-term working capital is consistently ranked as their number 1 challenge with far-reaching consequences such as the inability to invest in growth.

Dutch banks largely withdrew from SME finance post-crisis and many alternatives have emerged since. However, most Dutch alternatives miss the “tech” in Fintech and have not achieved the level of automation and technical integration that Novicap offers.

Travella concluded: “Dutch financial services are not in their end state just yet and Novicap was the clear go-to partner that could develop a seamless invoice finance solution with Exact. This year we are on track to grow 5X in Spain and are hungry to start financing Dutch SMEs as well.”

You can find the press release on this link