Twinco Capital secured EUR 2.5 million in Series A round, led by Finch Capital.

Twinco Capital, a Madrid, Spain-based provider of financial services to factories, announced the completion of a EUR 2.5 million ($2.8 million) Series A round.

The funding was led by Finch Capital and the money will be used to hire ore people, as the company prepares its second finance programme.

Twinco Capital, founded in 2016 by Sandra Nolasco and Carmen Marin, provides affordable loans to factories when they receive a purchase order so they can buy raw materials and pay wages before they actually receive invoices from customers. SInce launching their services in 2018, Twinco has financed more than $2m in loans as part of its first financing programme in partnership with a Spanish fashion house.