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WILMINGTON, N.C. - Cloud banking software provider nCino, Inc. (NASDAQ:NCNO), a $3.02 billion market cap company currently trading below its InvestingPro Fair Value, announced Thursday it has entered the Spanish market through a partnership with Baghdadi Capital Group, marking further expansion of its presence in continental Europe.
The family office, which specializes in working capital finance and has financed 2.5 billion euros to date, will implement the nCino Platform across its operations including Trade & Working Capital (TWC), Higher Bridge Capital (HBC) and Tamwuil.
Baghdadi Capital will use nCino’s technology to standardize and automate its global operations, streamline client onboarding, and support international expansion. The platform will be deployed across the firm’s factoring, reverse factoring and trade finance operations.
"We’re building the leading independent working capital finance servicer worldwide, and nCino will enable us to move quickly toward this goal," said Carlos Torrens, Chief Technology Officer of Baghdadi Capital, according to the press release. InvestingPro analysis reveals strong growth potential for nCino, with 9 analysts recently revising their earnings estimates upward. Subscribers can access 6 additional exclusive ProTips and comprehensive financial metrics for deeper insights into nCino’s growth trajectory.
The implementation aims to help Baghdadi Capital maintain operational consistency while expanding into new markets. Founded in 2019, the company provides working capital solutions for SMEs as an alternative to traditional banking.
"Entering the Spanish market with a customer like Baghdadi Capital is tremendously exciting for nCino," said Joaquin de Valenzuela, Managing Director of EMEA at nCino.
The nCino Platform offers AI-powered solutions for commercial lending, SME banking, and mortgage lending, helping financial institutions automate processes and reduce operational inefficiencies.
Baghdadi Capital, founded by Spanish businessman Baihas Baghdadi, is executing a diversification strategy by acquiring participations in factoring and specialty finance companies across selected geographies in Europe, the Americas, and Asia.
In other recent news, nCino Inc. reported strong fiscal second-quarter 2026 results, with total revenue and non-GAAP operating income surpassing the high end of guidance by approximately 4% and 24%, respectively. This performance was bolstered by a 9% FXN organic subscription revenue growth, exceeding UBS’s expectations of around 7%. Following these results, UBS raised its price target for nCino to $39 while maintaining a Buy rating. Truist Securities also increased its price target to $32, noting nCino’s progress in growth initiatives and maintaining a Hold rating. Piper Sandler adjusted its price target to $34, highlighting a significant $5.3 million subscription revenue beat and improved mortgage volumes. Keefe, Bruyette & Woods raised their price target to $34.50, citing subscription revenue exceeding guidance by 3.4% and consensus estimates by 4.1%. Additionally, nCino introduced AI-driven mortgage tools aimed at streamlining the loan process, including features like AUS Smart Tasks and Refi Opportunity Analyzer. These developments reflect nCino’s ongoing efforts to enhance its platform and financial performance.
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