Twinco Capital is a Madrid-based fintech providing supply chain finance to suppliers of large corporations, uniquely funding them from the purchase order stage rather than only at invoice — advancing up to 60% of order value upfront and the balance on delivery. It uses proprietary risk intelligence and real-time operational and ESG data to underwrite supplier performance risk in emerging markets, with a focus on textile, apparel and retail supply chains. Founded in 2016 by two women, it raised €165M in June 2026 (a €15M Series B led by Dutch development bank FMO plus a €150M securitisation facility led by Banco Santander), bringing total equity raised to roughly $73M.
SectorsFintech, Supply Chain Finance, Trade Finance, Embedded Finance, ESG / Sustainable Finance
Start-up MapFintech › SME lending & financing
Founders
C
Carmen Marín
Co-founder & COO
S
Sandra Nolasco
Co-founder & CEO
Global models 5
CC2FO
United States · c2fo.com ↗
Supplies working capital to suppliers of large corporations by funding their receivables early. It earns a discount or fee on each financed payable.
$537MComparable
MMarco
United States · www.marcofi.com ↗
Provides trade finance to SME exporters and importers, mainly in Latin America. It advances cash against orders and invoices and underwrites with its own risk data. The total includes debt facilities.
$200MComparable
TTaulia
United States · taulia.com ↗
Supply chain finance platform that lets corporate buyers' suppliers get paid early, funded by third-party capital. It was acquired by SAP in 2022.
$146MComparable
DDrip Capital
United States · www.dripcapital.com ↗
Finances SME exporters in emerging markets such as India and Mexico against their export orders and invoices. It uses its own underwriting and draws on debt and securitised funding lines.
$60MComparable
SStenn
United Kingdom · www.stenn.com ↗
Financed invoices for SME suppliers in emerging markets selling to international buyers, backed by large debt facilities. It collapsed into administration in 2024.
$50MComparable
In the same niche 11 others
See all in the Start-ups Map →
Notes: Most funded first
Investors 9
Open as list →
MMundi Ventures
www.mundiventures.com
BBanco Santander
www.santander.com
BBBVA Spark
www.bbvaspark.com
ZZubi Capital
zubicapital.com
BBankinter
www.bankinter.com
FFinch Capital
QQuona Capital
F
FMO
WWorking Capital Innovation Fund
Funding rounds 7
| Date | Round | Amount | Lead |
|---|---|---|---|
| 2026-06-02 | Venture Debt | €150M | Banco Santander |
| 2026-06-02 | Series B | €15M |
FMO
+3 more
|
| 2023-10-27 | Venture Debt | €50M | BBVA Spark |
| 2023-01-24 | Venture Debt | $3M |
Lead not disclosed
+1 more
|
| 2023-01-24 | Series A (estimated) | $9M |
Quona Capital
+4 more
|
| 2021-02-05 | Series A (estimated) | €3M |
Mundi Ventures
+1 more
|
| 2019-06 | Series A | €2.5M | Finch Capital |
News 7
Open as list →| Published | Article |
|---|---|
| 2026-10-26 |
Las startups en España rozan los 4.000 millones de euros invertidos, en 2026 ↗
MuyPymes
2026-10-26 |
| 2026-09-29 |
PLD Space, Elena Betés e Itnig, entre los premiados por Endeavor España ↗
Emprendedores
2026-09-29 |
| 2026-07-28 |
El ecosistema español supera las 12.000 startups, pero sigue sin crear gigantes tecnológicos ↗
El Español / Invertia Disruptores
2026-07-28 |
| 2026-06-03 |
Twinco raises €165mn to scale purchase order finance ↗
Global Trade Review (GTR)
2026-06-03 |
| 2023-11-16 |
Twinco Capital to fund $200m in emerging fashion markets in 2024 ↗
Just Style
2023-11-16 |
| 2023-10-27 |
Meet a female founded fintech powering sustainable supply chains ↗
FashionUnited
2023-10-27 |
| 2023-10-27 |
Madrid-based supply chain fintech Twinco Capital secures €50 million to help SMEs bridge the finance gap ↗
EU-Startups
2023-10-27 |