In three years, online lender Spotcap has issued more than €120 million in credit lines to small and medium-sized enterprises (SMEs). The fintech also raised an additional €22 million of funding from its existing investor network. It has now raised €100 million of investment since its launch in September 2014.

Jens Woloszczak, Spotcap Founder and CEO said in a press release, “We’ve experienced significant growth over the past three years, which is a testament to the fundamental need SMEs have for flexible and accessible financing.”

The company has established a distribution network of more than 10,000 intermediaries including financial advisors, accountants and finance brokers. In the next 12 months, Spotcap will continue to work with its intermediary partner network to increase its global market share. The business will also focus on strengthening and building strategic partnerships. The company now operates in Spain, the Netherlands, the United Kingdom, Australia and New Zealand. Spotcap leverages its proprietary credit platform and risk algorithm to provide credit lines and loans to SMEs.