Based out of London, Uncapped is Europe’s first revenue-based finance provider, which lets founders raise growth capital sans compromising control over their business. Uncapped provides business advances without credit checks, personal guarantees, warrants, equity, or compounding interest.
Secures €22.6M funding
Uncapped just announced that it bagged $26M (nearly €22.6M) funding in a financing round – including debt and equity – led by Mouro Capital (the $400M (nearly €342.4M) successor fund of fintech specialist Santander InnoVentures). The other investors that participated in the financing round are Spanish VC fund All Iron Ventures, existing investors including Global Founders Capital, White Star Capital, and Seedcamp, and notable angel investors in Europe including Taavet Hinrikus (Transferwise) and Carlos González-Cadenas (GoCardless).
Notably, this is the first investment by Moura Capital following its recent relaunch as an autonomous VC fund spun out of Banco Santander. The London-based fintech intends to use this investment towards its rapid expansion across Europe, with Spain being its core target market. And, it follows Uncapped’s first investment of nearly €11.7M that it secured last year from Global Founders Capital, White Star Capital, and Seedcamp.
“Uncapped was born out of frustrations I faced launching and running my first business. I couldn’t take financing and venture capital wasn’t ideal either as I didn’t want to lose equity, so I repeatedly missed out on growth opportunities. With this further funding Uncapped is ideally positioned to help hundreds of more businesses across Europe and Spain grow to their full potential,” says Asher Ismail, co-founder of Uncapped.:
Unboxing Uncapped
Founded by Ismail and Piotr Pisarz in 2019, Uncapped is changing the way growing online brands fund marketing and inventory. The company was founded out of frustration with the limited financing options available for the UK and European entrepreneurs in order to finance growth.
Uncapped’s technology provides founders with growth finance of between €11K and €1.2M for a flat fee of 6% in a day. Businesses can repay the capital as they make revenue without any predefined repayment date. Uncapped is available to businesses that take online payments, have a minimum of €10,000 of monthly sales, and a trading record of at least six months. It is ideal for companies in various sectors including e-commerce, SaaS, direct-to-consumer (DTC), gaming, and app development.
“As a VC I met hundreds of founders who had great businesses but needed a better funding model. Often founders would give up equity to finance marketing and inventory expenses because they had no other choice. We started Uncapped so entrepreneurs could access funding on their terms and spend their time executing rather than fundraising,” notes Piotr Pisarz, co-founder of Uncapped.
Image credits: Uncapped