02 December 2019:
Revenue-based finance provider Uncapped has raised €11.7 million. The company is backed by Global Founders Capital, White Star Capital and Seedcamp.
Uncapped has a revenue-based finance model where businesses only repay when they generate sales, so if the market slows down or sales are lower than projected, the company and founders won’t be caught out.
Asher Ismail, co-founder, Uncapped, said, “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.”
Asher Ismail, added, “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, said, “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.”
Uncapped was founded by Asher Ismail and Piotr Pisarz.
(Image – Uncapped)