Business finance ‘pioneer’ launches today following £10m fundraise
A firm aiming to be ‘Europe’s first revenue-based finance provider’ has launched after raising £10m to boost its proposition.
Uncapped has secured backing from Global Founders Capital, White Star Capital and Seedcamp to launch its growth finance business.
Headquartered in London with offices in Warsaw, Uncapped has a revenue-based finance model where businesses can borrow £10k and £1m at a flat fee of 6 per cent, and making repayments only when they generate sales.
Following the fundraise, Uncapped is available from today for European businesses who take online payments and have at least nine months trading history.
Asher Ismail, co-founder commented “As a founder, I’ve raised money from angel investors, VCs, crowdfunding and banks, but was struck by the lack of a revenue-based solution in Europe.
“At Uncapped, we want to bring fundraising into the modern age with the easiest and fastest way to get funded. I don’t want another founder to have to pay compounding interest, risk losing their home, or give up more equity in their company than they should.
“Europe’s entrepreneurs need access to more innovative funding models and we’re committed to helping founders win by pioneering a fair and transparent approach at Uncapped.”
Christopher Priebe, partner at Global Founders Capital, added: “There’s a clear requirement in the European market for a new way to fund fast growing businesses.
“Uncapped’s solution is ideally placed for when venture capital and traditional debt aren’t appropriate.
“We anticipate that Uncapped will be used by thousands of growth businesses right across Europe and look forward to following the demand for this new innovative model.”
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