BBVA Spark backs Twinco Capital with €50m debt facility to provide sustainable supply chain finance

Twinco Capital has secured a €50 million debt facility from BBVA Spark (part of Spain’s second largest bank, BBVA) to scale its proposition.

The Amsterdam and Madrid-based FinTech, which was founded in 2019, works with large corporations, mostly in the retail and apparel sectors, and offers funding to their suppliers worldwide, advancing up to 60% of the purchase order value upfront and paying the remainder upon delivery.

It uses machine learning to assess the quality and strength of the commercial relationships between these buyers and their suppliers.

"We are very pleased to support Sandra and Carmen, two entrepreneurs who have reinvented, with Twinco, the way supply chains are financed on a global scale by incorporating innovative environmental and social criteria into their supplier financing model,” says Roberto Albaladejo, Head of BBVA Spark.

Twinco is a venture backed business, with investors such as Quona Capital, Working Capital Fund, Mundi Ventures, Finch Capital.

On the debt side, BBVA Spark will become one of Twinco’s key financial partners and join EBN Banco de Negocios who has been supporting the company from its inception, and Zubi Capital. 

Sandra Nolasco, CEO at Twinco Capital, comments: “We are thrilled to partner with BBVA Spark to help customers build truly sustainable and competitive global supply chains. 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.”

Carmen Marin, COO at Twinco Capital, adds: “The value added Twinco is providing to customers stems from the combination of its unique funding solution with business intelligence that provides a holistic overview of supply chain risk.”

“Technology and machine learning provide invaluable data insights on commercial, financial and ESG suppliers’ performance, giving our customers a state-of-the-art supply chain risk management tool.”