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Twinco and BBVA tackle $2.5 trillion SME trade finance gap
Twinco Capital, a sustainable supply chain finance fintech, has obtained a €50 million facility with BBVA Spark to address the $2.5 trillion global trade finance gap, especially impacting SMEs in emerging countries. Twinco, led by female entrepreneurs, combines purchase order funding with sustainability criteria and has provided over $250 million in funding to suppliers in emerging markets, making it a high-growth fintech firm in Europe with an innovative approach.
SME lender iwoca raises £200m funding line
Major European SME lender, iwoca, has secured a new £200 million funding line with initial commitments from Barclays and Värde Partners. This funding follows a prior increase and extension of its funding line with Pollen Street Capital. The total debt commitments now exceed £850 million. A recent survey indicates that high street banks are decreasing their willingness to fund SMEs, while the demand for SME finance is expected to rise.
BBB fund for Scotland to provide £150m boost for SMEs
The British Business Bank introduced its £150 million Investment Fund for Scotland on October 5th. This fund supports sustainable economic growth by providing financing to new and expanding businesses across Scotland. It offers loans from £25,000 to £2 million and equity investments up to £5 million, benefiting SMEs in their efforts to initiate, expand, or succeed. This marks the first UK government-backed investment fund for Scottish small businesses, enhancing early-stage finance access.
Gridserve to expand EV charging network with £500m loan
Gridserve, a UK developer and operator of ultra-fast charging networks, has announced over half a billion pounds in certified green financing to accelerate net zero transport with an expansion of its EV charging network. The debt raising demonstrates the market’s confidence in both the transition to electric mobility and the company’s mission to help deliver net zero transport at speed and scale, Gridserve said.