Fasanara agrees €200m debt facility with Spanish fintech
Fasanara Capital has agreed a €200m (£172m) debt facility with Spanish fintech Novicap, to expand its working capital platform for small- and medium-sized enterprises (SMEs), mid-market companies and public bodies.
This is the latest allocation from the European asset manager, which has a history of investing in peer-to-peer lending companies and other fintech lenders.
The credit line will help to scale up Novicap’s “end-to-end” working capital offering, which includes supply chain financing, invoice factoring and flexible finance for supplier payments.
Novicap believes that the facility will unlock at least €1bn in financing per year.
Read more: P2P investor Fasanara inks $200m deal with Canadian pension fund
“Building on the relationship developed over many years, this new funding agreement is a major step in the scale up of our credit solutions,” said Lois Duhourcau, chief executive of Novicap.
“Fasanara Capital is a pioneer in our asset class, and counting on their support in today’s markets is an invaluable asset.”
Fasanara recently announced a strategic $200m (£163m) deal with an unnamed Canadian pension fund.
Over the past year it has been entering new markets such as India. The company said that it hopes to expand into the US in the near future.
Earlier this year, Fasanara announced plans to launch a $350m venture capital fund that will invest in fintech and crypto companies.