Spanish green fintech Twinco Capital has secured a debt facility of €50 million from BBVA Spark. The facility will enable Twinco to support its customers in 'building sustainable and competitive global supply chains'. The firm also has debt financing relationships with EBN Banco de Negocios and Zubi Capital.
Twinco, founded by Sandra Nolasco and Carmen Marin, is a venture-backed fintech - included in the investor lineup are Quona Capital, Working Capital Fund, Mundi Ventures and Finch Capital. It offers sustainable supply chain finance solutions providing over $250 million in funding to suppliers in emerging markets.
Growing rapidly, Twinco has incorporated more than 150 suppliers in thirteen different countries. It launched in December 2019 and it says it has grown by 'multiples of three' since then.
“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,” says Nolasco.
"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.
Lead image: via BBVA. Photo: Uncredited.