Germany-based fintech Re:cap has raised EUR 10 million a seed round and EUR 90 million in outside capital.
The growth financing is provided by investors Felix Capital, Project A Ventures, as well as Entrée Capital. Re:cap is as a financing platform that acts as an intermediary between companies and investors. The startup is offering its services to companies in the software industry with sales between EUR 500,000 and EUR 15 million.
With Re:cap's technology, it is possible to examine the contract portfolio of software companies, which usually consists of recurring services. Up to 50% of annual sales can be converted into immediate prepayments. The company has set itself the goal of further expansion and aims to offer its services to businesses outside of software companies. In addition, the financing platform is to be rolled out quickly across Europe.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now