novicap has multiplied by four its volume of activity in 2022, compared to its pre-pandemic numbers. The fintech specialized in financing solutions and working capital optimization for SMEs and public administrations has reached 1,300 million euros financed to Spanish and Dutch companies since its foundation in 2015.
High growth despite the context of recession
Despite the rise in interest rates and the excess liquidity derived from the ICO lines, novicap has signed a very satisfactory 2022, increasing its credit portfolio by 37% year-on-year and closing the course with a positive EBITDA. Billing of its SaaS payment solutions to providers has also grown by 136% compared to the previous year, driven by the consolidation of Dynamic discountingits discount program for prompt payment to suppliers.
In addition, at the end of the course, the fintech reached a financing agreement of 200 million euros with fasanara Capital, the debt fund specialized in the fintech sector, for its working capital financing solutions. This alliance allows novicap increase its financing capacity above 1,000 million euros per year and continue promoting the development of leading solutions in its markets. Thus, fasanara Capital has become one of the main funders of the investment platform. novicapafter progressively increasing the volume of its contributions since 2017.
Throughout the past year, the company supported thousands of companies throughout Europe that, neglected by banks and in search of digital solutions, opted for the financing and working capital optimization services for companies of novicap.
Since its creation, the entity has supported more than 2,500 companies throughout Europe, with the consequent impact for its shareholders, employees and suppliers, managing to shorten the time in which these companies collect their invoices by more than 65 days on average.
Renewal of the executive team
After the appointment of lois duhourcau as CEO of the company, novicap has continued to renew its executive team, combining an internal promotion policy with the incorporation of top-level profiles from the banking and Fintech sector.
In fact, throughout 2022, it tripled the presence of women in the management team and, at the beginning of 2023, it has incorporated Julian Villalbawho previously worked as managing partner of finsurtech in Atlas 360, in the position of director of operations and risks, and Joaquín Jiménez, who was managing partner in finamcoas commercial director, with which he intends to continue promoting collaboration with other financial and technological entities.
Lois duhourcauCEO of novicapensures that “Despite adverse external conditions, 2022 has been a successful year for novicap. We were facing a course marked by rising interest rates and lower economic growth. While banks continue to tighten the criteria for granting loans, we continue to bet on helping more and more clients through our solutions. After agreement with fasanara and with the growth of our SaaS payment tool, we are in an ideal position to fulfill our objective of providing a comprehensive solution in the management of working capital to companies and public administrations”.
