The company, which offers applicants a five-minute decision on a loan after an algorithm rates their creditworthiness, may need to raise 1 billion euros ($1.12 billion) in the next three to five years to expand in Europe and reach a target market share of 2.5 to 5 percent, Triebel said. The company raised 13 million euros when it started six months ago. Spotcap focuses on small- and mid-sized enterprises, or SMEs, that have been active more than a year. Those businesses often have limited access to credit as they pose more risk to banks and don’t have the track record to prove their ability to repay the funds.

http://www.bloomberg.com/news/articles/2015-03-03/rocket-internet-backed-lender-spotcap-close-to-new-fundraising