Uncapped raises USD 80 mln for debt financing solutions

Thursday 20 May 2021 12:01 CET | News

UK-based startup Uncapped has raised an USD 80 million funding round of debt and equity to launch a suite of banking services tailored to the needs of tech-driven companies.

The startup plans to extend the model of giving companies a way to get their revenue upfront not just to SaaS companies but also to the sector of ecommerce. The round was led by Lakestar. Uncapped’s previous investors include All Iron Ventures, White Star Capital, Global Founders Capital, and Mouro Capital. The company plans to use the cash to move into the banking space, with new products and services. In 2021, the company began issuing Visa cards.

Founded in 2019, Uncapped is positioned as an alternative to traditional debt financing and venture capital, providing companies with growth finance for a flat fee which goes down to 6%, and fast-released capital. Businesses repay the capital as they make revenue. There is no set repayment and no compounding interest, equity, or personal guarantees. There are even no credit checks or business plans required.

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Keywords: funding, startup, SaaS, supply chain finance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United Kingdom
This article is part of category

Banking & Fintech