Rocket Internet-backed Spotcap wants to make financing easier for small businesses

Rocket Internet has another project in Europe, well at least it is backing another startup, this time one based out of Spain. Spotcap is a company focused on helping small business gain easier access to credit lines and loans. Initially serving the Spanish market only (to the point that its website is not available in English yet), the startup says it asseses “the real-life financial performance of customers rather than solely looking at customers’ financial history.” It’s not exactly clear what that entails — beyond “a unique algorithm” — but Spotcap says its service cuts out the need for paperwork...

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