Spotcap has entered into a partnership with NZX-listed New Zealand bank Heartland that will see the Australian operations provided with A$20 million of funding.

The fintech company has also launched its New Zealand operations in Auckland, with Spotcap managing director Lachlan Heussler saying the move puts further focus on our region’s potential to become global leaders in the fintech space.

Heartland Bank chief executive Jeff Greenslade said his bank is happy to gain further exposure to SME lending via the relationship with Spotcap.

Our partnership with Spotcap further highlights Heartland Bank’s commitment to fintech and digital banking, in line with both our own internal offerings as well as our investments in the sector," Mr Greenslade said.

Spotcap’s loan book grew more than 450 per cent from December 2015 to December 2016, it said in a statement. 

The fintech firm has raised more than A$110 million in equity and debt funding, and has issued more than A$90 million in credit to SMEs around the world.

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