The round also includes conversion of USD 2 million in seed capital from investors including SV Angel and BoxGroup, bringing the total equity raised to date to nearly USD 8 million. The new funding will go toward building a team to further the company’s mission of empowering mobile app founders and developers to grow their businesses.
Since its launch in late 2015, the company has focused on building a technology infrastructure to get financing in the hands of mobile app businesses. The automated system uses real-time business data to deliver two financing products based on current and future earnings, providing app businesses with capital to scale without taking unnecessary dilution.
In addition to scaling operations, Braavo plans to launch a business intelligence analytics tool that helps mobile app businesses understand performance in real time.
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