Founded by Asher Ismail and Piotr Pisarz in 2019, Uncapped is Europe’s first revenue-based finance provider, which allows founders to raise growth capital without giving up control of their business. In the latest development, the company has raised €11.7 million funding led by Global Founders Capital, White Star Capital, and Seedcamp.
Based out of London, Uncapped will provide growth financing between €11K and €1.2 million at a flat fee of 6% without any credit checks, personal guarantees, warrants, equity, or interest. Unlike VC’s, this platform offers European founders the opportunity to raise crucial growth capital without giving up control of their business.
Notably, Uncapped is available to European businesses with at least nine months of trading history, which process payments online, for example, companies in the e-commerce, SaaS, direct-to-consumer, gaming, and app development sectors.
It’s worth mentioning that, Uncapped has a revenue-based finance model since business revenue fluctuates from month to month. According to this model, businesses only repay when they generate a sale. This means that if the market slows or the sales drop, the repayments will drop too.
For the uninitiated, the company was born out of frustration with the limited financing options available for European entrepreneurs. Its technology connects to the companies existing marketing and sales accounts such as Google Ads and Stripe to make data-driven decisions.
Asher Ismail, the 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.
Main image credit: Uncapped
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