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ovicap, a company specialized in working capital financing, has supported since the beginning of the coronavirus crisis more than 500 companies that needed to face payments made during confinement and the subsequent de-escalation.
The startup, one of the fintechs with the most projection in the Barcelona ecosystem, has indicated that SMEs and large companies have sought alternative financing routes due to the "need" to improve their cash flow and the "difficulty" they have encountered in accessing credits granted by the Official Credit Institute (ICO).
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In this sense, the firm led by Marc Antoni Macià has assured that the demand for financing will increase "considerably" in 2021, since it estimates that 60% of Spanish companies will need agile liquidity to face their pending invoices and confront the decrease in income caused by the pandemic.
Founded in London by Catalan entrepreneurs and with headquarters in Barcelona, NoviCap ranks 75th in the classification of fastest-growing European companies prepared by Financial Times. In 2019, it surpassed the barrier of 210 million euros financed, triple that of the previous year, with 35,000 invoices financed in 35 countries. The company has announced this year the opening of new offices in Barcelona that will triple the current space and allow it to cope with growth, and will also establish itself in Amsterdam.