Spain-based Twinco Capital Secures €165Million In Series B Round

The Series B round was led by FMO, the Dutch entrepreneurial development bank with participation from Bankinter and existing investors including Quona Capital and the Working Capital Fund. The investment brings Twinco Capital’s total equity funding to approximately $73 million.

At the same time, Banco Santander structured and led a €150 million securitisation facility, providing significant capital to support the company’s financing operations.

Founded in 2016 by Sandra Nolasco (CEO) and Carmen Marín (COO), Twinco Capital is headquartered in Amsterdam and Madrid. The company specialises in purchase order financing, helping suppliers access working capital before goods are manufactured and invoiced.

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Unlike traditional trade finance solutions that provide funding after goods are delivered and invoices are issued, Twinco Capital offers financing at the purchase order stage. This allows suppliers to secure cash for raw materials, labour and production costs as soon as an order is placed.

The model is particularly valuable for small and mid-sized suppliers in regions such as Latin America, Asia and Eastern Europe, where access to working capital can be limited. Twinco can finance up to 60% of a purchase order’s value upfront, with the remainder settled upon delivery.

The new funding strengthens Twinco Capital’s ability to support global supply chains and scale what it sees as a new, institutional-grade asset class within trade finance.

“Global supply chains depend on suppliers having access to liquidity long before goods are delivered and invoices are issued,” said Sandra Nolasco, co-founder and CEO of Twinco. “Yet traditional supply chain finance still largely begins at the invoice stage. What Twinco offers is fundamentally different: a technology and risk platform capable of financing and managing execution risk from the moment a purchase order is issued.”