Berlin-based re:cap, a company that operates a financing and data insights platform, has closed $14.6M (approximately €13.41M) in its Series A round of funding, launching its software as a service (SaaS) platform.
The round was led by Entrée Capital and included participation from existing investors Felix Capital and Project A.
Avi Eyal, Managing Partner at Entrée Capital, says, “The re:cap team has impressed us from day one with their tremendous execution. The combination of their knowledge of the financial services sector, their track record and their expertise in tech and data give them a great foundation to build a global software and financing powerhouse.”
In April 2022, re:cap raised $15M (then, nearly €13.8M) as an extension of its Seed round.
A new SaaS platform
Besides the funding, re:cap has also announced the launch of its software platform, re:cap Institutional. The platform provides modern investors with a data-driven solution, leveraging re:cap’s underwriting and monitoring platform refined through insights from businesses and real-time data sources.
Additionally, the company has unveiled Cash Insights, a cash flow management software previously only accessible when coupled with re:cap’s alternative funding services.
London-based investment firms Avellinia Capital and Channel Capital are among the first customers to use re:cap Institutional. They use the platform to monitor portfolio cash flow in real-time, automate data collection and processing, and establish early warning systems.
re:cap’s portfolio companies also benefit from the software, which offers features like real-time cash flow monitoring, cash-based profit and loss statements, and insights into profitability and financial runway.
Capital utilisation
re:cap says it will use the funds to expand its alternative debt financing business and marketplace, and scale its software platform. This development comes after 24 months of growth for re:cap.
Paul Becker, co-founder and CEO of re:cap, says, “Since day one, our mission has been to build a platform that connects businesses with investors, enabling better decision-making for providers of capital and better financing options for businesses.”
“As a first step, we built an industry-leading debt financing product. In parallel, we created a powerful software suite for both investors and businesses.”
“Today, in conjunction with our Series A capital raise, we are announcing the general release of our investor SaaS platform re:cap Institutional and our cash flow software Cash Insights. It’s a great sign that our strong investor base is doubling down on this opportunity.”
A financing and data insights platform
Founded in 2021 by fintech experts Jonas Tebbe and Paul Becker, re:cap is a tech company offering a financing and data insights platform. It provides alternative debt financing and insights to tech and service businesses in Germany and the Netherlands.
The company offers a debt funding product in collaboration with HSBC Innovation Banking for tech companies and recently introduced a short-term funding product for service businesses.
Over the past year, re:cap has quadrupled its deployed funding volume and annual recurring revenue (ARR), with funding volume reaching the high double-digit millions.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam