Braavo Capital, a New York-based integrated financing platform for mobile app businesses, closed on a combined debt and equity financing of over $70m.
The financing was led by Mark 2 Capital, and included participation from angel investors and family offices from across the fintech and mobile ecosystem.
The money will be used to scale the company’s financing originations and support the growth of its customer base.
Led by Mark Loranger, Co-founder, Braavo Capital provides performance-based funding and insights for mobile growth. It uses data to understand clients’ needs in real-time and to deliver financing solutions in days with no extensive due diligence, personal credit checks or personal guarantees from the founders.
The technology integrates with a mobile app business’s key data systems, including app store and analytics accounts – to examine metrics like user growth, revenue, marketing performance and engagement. Not only can this data be used to analyze risk and deliver financing, but it also enables Braavo to provide an extra layer of insight to its customers to help them spend more effectively and grow more sustainably.