Braavo Capital Inc., a NYC-based provider of on-demand financing for mobile apps and games, raised $6m in Series A funding.
The round was led by e.ventures, with participation from SWS Venture Capital (founded by Steve Streit, Founder & CEO of Green Dot Corporation) and Bill Smith, CEO of Shipt. It also includes conversion of $2m in seed capital from SV Angel and BoxGroup, bringing the total equity raised to date to nearly $8m.
The company will use the funds to build the team and to launch a business intelligence analytics tool for mobile app businesses to understand performance in real time.
Launched in late 2015 by Mark Loranger and Sergei Kovalenko, Braavo has built a technology infrastructure for mobile app businesses to get financing quickly via an automated system that uses real-time business data to deliver two unique products based on current and future earnings.
The business intelligence analytics tool, designed for revenue-generating long-tail and mid-market mobile apps, will be available at no cost for the remainder of 2018.