Fintech Spotcap Introduces Alternative Finance to Accountants with Unsecured Business Loan Offering

Simple and easy to use, the online partnership programme allows small and large practices to move sourcing of capital for SMEs in-house

Spotcap UK today announced strong momentum for its partnership programme for accountants. The programme was introduced in October 2016, when Spotcap launched its operations in the UK. Developed in collaboration with partners globally, the programme’s objective is to provide accountants with an online unsecured financing service for SMEs that is simple, flexible and easy to use.

“A lot of accountants still rely on traditional ways of obtaining finance for their clients, or outsource this service to third parties, but we are seeing a move away from this,” said Kevin Vendel, senior partnership manager, Spotcap UK. “By offering the service in-house, practices are able to create a new revenue stream and improve the client-accountant relationship in the process. It’s a path to business growth regardless of your size. Spotcap is currently partnered with over 300 accounting firms in five markets. They have all discovered that managing clients’ financing needs does not have to be a long process involving a large amount of paperwork. Instead the flexible and high-quality online solutions we offer allow achieve business growth while helping SME clients.”

The Partnership Programme

The Spotcap partnership programme provides flexible credit lines for SMEs up to £350k. The company types that are eligible for a Spotcap business credit line are limited companies, partnerships and sole traders.

Benefits include: the creation of a new revenue stream by moving the sourcing of capital for clients in-house, strengthening of existing client relationships by providing an additional service and counsel, potential new client wins by demonstrating a customer-centric service approach.

On our website accountants can login to a personalised partner portal, which allows them to submit an application on behalf of their clients, refer clients and monitor progress.

SMEs with the following characteristics are well-suited for a Spotcap credit line or business loan:

  • Capital needs in the range of £10k-£350k
  • Seeking unsecured funding without personal or director guarantee
  • Preference towards short-term flexible repayment with a maximum term of 15 months

Minimum criteria for credit line application include:

  • An annual turnover of £350k
  • Financial documentation from the past two years
  • UK bank account
  • 24 months in business

Partner quotes

“Alternative finance providers are enabling SMEs to do business in new ways. If accountants want to remain businesses’ most trusted advisers, they need to keep up with these developments. I would advise them to find a partner, someone with a strong track record of working with accounting firms.”
– Victor Verstappen, senior manager, BDO Corporate and SME Finance

“We know SMEs don’t want to spend time on the analysis and admin related to finding funding. By partnering with the right fintech businesses we can present our clients with alternative finance solutions that fit their needs, faster and more easily. While there are potential uncertainties including mainstream adoption and regulatory risk, it certainly seems like the future for fintech and alternative finance will be a bright one.”–Mark Van Zon, senior manager, KPMG

Spotcap at Accountex

  • Visit us at booth 383
  • Learn more about alternative finance. Stop by the Future & Growth Theatre 10.15–10.45am on 11 May to hear Kevin Vendel, senior partnership manager, speak.

About Spotcap

Spotcap provides flexible and accessible small business financing, allowing entrepreneurs to focus on what matters–their business. We developed our credit risk algorithm in-house and lend from our own balance-sheet.

Headquartered in Berlin Germany, Spotcap launched in Spain in September 2014 before expanding to the Netherlands and Australia in 2015, the UK in 2016 and New Zealand in 2017. The company is led by founder and CEO Jens Woloszczak and Niels Turfboer, who is the managing director of Benelux and UK. The growing team currently consists of more than 100 employees. Spotcap is backed by investors including Rocket Internet, the world’s leading global internet platform outside of the US and China, Finstar Financial Group, Access Industries, Holtzbrinck Ventures and Kreos Capital.
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Helena Zarchan
Senior PR and Communications Manager
Ph: +44 (0)7850 452021