Online credit platform Spotcap launches in Australia today, providing funding solutions to SMEs across the country.

According to a Spotcap statement, Australia’s two million SMEs have difficulty obtaining the capital to grow with Australian Bureau of Statistics figures showing small business loan applications are rejected at roughly twice the rate of medium-sized businesses. 

Spotcap launched in Spain in September last year and the Netherlands in March this year. 

It is backed by German internet company Rocket Internet.