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Annual reports
We provide the company’s financial information here. You can download the Annual Report and the Audited Annual Financial Statements, including key figures, the year’s performance, and the corresponding audit report.
A specialist credit manager, built for the Spanish market.
Zintra Capital provides tailored private debt solutions to Spanish companies and projects that fall outside the remit of traditional bank lending. Our Investment Committee brings together more than a century of combined experience in investment banking, alternative finance and corporate banking.
We invest across three specialist verticals — corporate lending and short-term credit, healthcare receivables and renewable energy — each managed by specialists with deep sectoral expertise. Our platform combines origination reach with institutional rigour: every transaction is underwritten in-house and supported by independent technical, legal and financial diligence.
Following its integration into Grupo CIMD Intermoney in October 2025, Zintra Capital benefits from the scale, balance sheet and distribution of Spain’s leading independent financial services group.
€750m
5
+200
+60
Three specialist verticals.
We operate dedicated investment platforms, each with its own team, fund structures and institutional partners. A single counterparty for the full spectrum of non-bank credit needs.
Bespoke credit solutions for Spanish corporates and SMEs
We originate direct lending and working-capital solutions for established Spanish companies underserved by the banking system. Our team combines origination reach across sectors with a disciplined underwriting process, supported by in-house structuring and independent diligence on every transaction.
Transactions span senior and junior debt, holding-company financing, acquisition facilities, bridge loans and invoice-based working-capital programmes. Tickets range from short-dated facilities through long-term capital commitments, tailored to each sponsor’s capital structure.
Non-recourse financing for suppliers of the Spanish healthcare system
Zintra Capital Healthcare is a dedicated platform for the purchase and management of invoice portfolios from pharmaceutical companies, medical-device manufacturers and service providers to the Spanish public and private healthcare sector. Transactions are structured as true-sale, non-recourse assignments, providing clients with immediate liquidity, balance-sheet relief and the elimination of counterparty delay and default risk.
Financing is channelled through Ronda Funding, F.T., a CNMV-registered and supervised fund created and managed by Zintra Capital and funded by Nomura. The platform offers both one-off portfolio purchases and forward-flow programmes, with debtor coverage spanning all Spanish public hospitals and a curated list of major private hospital groups, insurers and other private players of the healthcare industry.
€200m (scalable)
Nomura
€400m+
30+
650+
€11bn+
A single counterparty for the financing needs of renewable energy groups
Zintra Capital’s energy platform offers integrated debt solutions for Spanish renewable developers — from project-level construction finance through to corporate holdco facilities and ground-lease monetisation. Our in-house energy team combines project finance, investment banking and power-market expertise, with AFRY acting as independent technical and market advisor.
Alameda Energy Fund is our flagship €200m renewable debt fund (expandable to €300m), backed by a senior facility from Pollen Street Capital and Spanish institutional investors. Alameda finances the construction and commissioning of ready-to-build solar PV, wind and hybrid projects on a fully merchant basis — no PPAs, subsidies or feed-in tariffs required — allowing sponsors to retain assets through to commercial operation. Tickets range from €3–35m with a pipeline of 400 MW in active review.
€200m
Pollen Street Capital
AFRY
€3–35m
€50–250m
€20–100m
Grupo CIMD Intermoney — Spain's leading independent financial services group.
Founded in 1984, CIMD Intermoney is an independent financial group with over forty years of experience in brokerage, asset management, securitisation, energy and advisory. In October 2025, CIMD Intermoney acquired Beka Credit, which was rebranded as Zintra Capital — reinforcing the group’s position in non-bank credit across Southern Europe.
Headquartered in Madrid, with offices in Barcelona, Lisbon and Dubai. Institutional shareholders include Santander, BBVA, Cajamar, Ibercaja and Crédito Agrícola.
1984
+470
€83m+
€7.5bn
321%
50%
Experienced partners. Institutional rigour. Aligned interests.
Zintra Capital is led by senior practitioners with proven track records across international investment banking, corporate lending and alternative credit.
José Corral
Managing Partner & CEO
Thirty years in banking at Santander, where he led SME and Corporate Banking in Spain and served as Deputy Head of Risk and Group Credit Officer. Earlier experience in Equity Capital Markets and Structured Finance at BBVA.
Lars Schmidt-Ott
Managing Partner
Thirty years in international investment banking. Former Head of Global Banking at Swiss Re, Chairman of CEG AG, board member of Invision AG, with earlier roles in M&A at UBS, Macquarie (FPK) and The Boston Consulting Group.
Juan del Rivero
Board Member
Over forty years in investment banking. Former Partner at Goldman Sachs and Chairman at Azora, bringing long-standing relationships across the Spanish corporate, institutional and sovereign community.
Julio Manero
CFO & Managing Partner
He has more than 30 years of experience in financial management and business transformation, having served as interim CFO, CEO, and CRO, as well as a member of Boards of Directors. He was a Managing Director at Alvarez & Marsal for 14 years and Chief Financial Officer of Riofisa-Colonial for a decade. He also held senior executive positions in the retail and consulting sectors. Throughout his career, he has led transformation, restructuring, refinancing, and integration processes, combining strategic vision, team leadership, a strong focus on value creation, and a commitment to continuous improvement.
Recent transactions
Pollen Street Capital provides senior facility to Alameda Energy Fund
Pollen Street Capital announced a senior facility supporting Alameda, the €200m renewable debt fund managed by Zintra Capital dedicated to financing small and mid-sized renewable energy projects across Spain. The facility reinforces a strategic relationship and supports Alameda’s pipeline of 350 MW of further projects under review. The fund targets fully merchant RTB projects across solar, wind and storage.
RIC Energy closes first Spanish project finance — €29.5m with Alameda Energy Fund
Alameda’s debut investment supports RIC Energy’s Bluesol 1 and Bluesol 2 photovoltaic plants — over 60 MW of installed capacity in Almodóvar del Campo (Ciudad Real). The deal marks RIC Energy’s transition towards becoming an Independent Power Producer and validates a project-finance structure without corporate guarantees from the sponsor. The transaction closed swiftly following technical, legal and insurance diligence.
Zintra Capital and Nomura launch €200m healthcare receivables fund
Through the Ronda Funding vehicle, the joint venture provides non-recourse liquidity to pharmaceutical companies and suppliers across the Spanish public and private healthcare sector. The fund is registered and supervised by the CNMV and managed by Zintra Titulización, with Nomura providing the financing line. The platform offers both one-off portfolio purchases and forward-flow programmes, with invoice management services integrated.