IMAN Capital led an investor group in a majority investment in Crealsa Investments Spain, which provides web services for financing of invoices and promissory notes to small-to-medium enterprises. Co-Founders Jose Molina and Javier Chisbert will hold a significant stake in the company with Molina leading the business as CEO. Andrés Rubio, a former senior partner at Apollo Global Management, formed IMAN Capital to invest in special situations and tactical private investing opportunities.
A group of investors led by IMAN Capital Partners Ltd (“IMAN Capital”) has agreed to acquire a majority stake in Crealsa Investments Spain S.A. (“Crealsa” or the “Company”), a Spanish provider of web solutions for the financing of invoices and promissory notes to SMEs on a nationwide basis.
IMAN Capital is a private capital firm founded by Andrés Rubio, a former Senior Partner of Apollo Global Management and long-term private investor. With headquarters in London, IMAN Capital focuses on special-situation or tactical private investing opportunities across Europe and selected other countries.
The investment by IMAN Capital will reinforce Crealsa’s leading position in the financing of current liabilities for SMEs across Spain. Crealsa will discount approximately €100 million in 2020 with the expectation of annual discounted volumes increasing several-fold over coming years with support from IMAN Capital.
The Spanish confirming and factoring market had total volume of approximately €166 billion in 2018 with specialist firms, such as Crealsa, representing €839 million and growing their volumes by more than 15% annually during the prior five years.
The Company is headquartered in Valencia with commercial branches in Madrid and Murcia. Crealsa operates a completely web-based origination and underwriting platform with c.€270 million of discounted volume across 50,000 transactions since its foundation in 2009, having serviced c.3,000 clients and underwritten c.7,000 debtors.
The cofounders, Jose Molina and Javier Chisbert, will continue to hold a significant stake in the Company with Molina leading the business as CEO.
Jose Molina, cofounder and CEO of Crealsa, commented: “Through our online platform SMEs can manage their working capital needs using their invoices as an underlying asset and achieving immediate liquidity. Our vision is to be a leader in the Fintech sector in Spain and that is why we are delighted to be partnering with IMAN Capital to support Crealsa in its next stage of growth and business expansion.”
Andrés Rubio, founding partner of IMAN Capital, said: “Crealsa has demonstrated the growth and efficiency possible with the application of sound credit policies and advanced technology. Crealsa represents our entry into the SME financial services sector where we see significant future growth possibilities. This is IMAN Capital’s first transaction and forms part of an extensive pipeline of credit and real estate oriented investments across Europe that we are pursuing in partnership with selected institutional and private investors.”
IMAN was advised by Arcano, Gómez-Acebo y Pombo, KPMG and Capgemini.
Crealsa was advised by EY and Cuatrecasas.
ABOUT IMAN CAPITAL
London-headquartered, IMAN Capital Partners Ltd was founded in 2018 and is controlled by Andrés Rubio – a long-term private investor. IMAN Capital focuses on special-situation or tactical private investing opportunities across Europe and selected other countries. The firm is focused on value investing where underlying asset value and/or expandable cash flow generation offer attractive risk-adjusted returns over the long-term.
ABOUT CREALSA INVESTMENTS
The Company is headquartered in Valencia with commercial branches in Madrid and Murcia. Crealsa is a Spanish Fintech platform operating a completely web-based origination and underwriting platform providing solutions for the financing of invoices and promissory notes to SMEs on a nationwide basis. Since its foundation in 2009 Crealsa has completed c.€270 million of discounted volume across 50.000 transactions, having serviced c.3,000 clients and underwritten c.7,000 debtors.