Capcito secured $8M in capital investment backed by Schibsted and Ventech
Capcito, a Stockholm, Sweden-based software developer of a fintech platform providing automated B2B loans and financing, announced the completion of a new capital raise totalling SEK 74M ($7.6M).
The money was provided by new and existing investors, including Schibsted Growth, Ventech, SEB Venture Capital and Collector Ventures. The capital will be used to further iterate on the company's digital product as well as for expanding to other countries and hiring more people to help the company continue to grow.
In connection with the investment, Dan Ouchterlony from Schibsted, and Tero Mennander from Ventech, will join the company's board of directors.
Capcito, founded in 2015 by Michael Hansen, Mattias Axlind, Henrik Dyberg and Niklas Möller, built a platofrm providing access to three forms of corporate financing: selling invoices, mortgaging invoices and corporate loans.
The financing is offered by using the company's proprietary automated credit assessment solution, which, according to the Capcito, is directly connected with more than 6000 other companies..
Prior to this deal, Capcito raised almost $4M in outside capital.