Uncapped, a London, UK-based revenue-based finance provider to growth businesses, raised £10m in funding.
Backers included Global Founders Capital, White Star Capital and Seedcamp.
The company intends to use the funds to continue to expand operations.
Founded in 2019 by serial entrepreneur, Asher Ismail, and venture capital investor, Piotr Pisarz, Uncapped provides flexible growth finance to companies seeking an alternative to venture capital or traditional debt without credit checks, personal guarantees, warrants, equity, or interest.
The company, which also has offices in Warsaw, allows founders to raise working capital between £10k and £1m at a flat fee of 6% to manage their fluctuating revenues can fluctuate from month to month, particularly during early and growth stages.
Uncapped doesn’t require a traditional business plan and pitch deck. Instead, its technology connects to the companies’ existing marketing and sales accounts such as Google Ads and Stripe to make fast, data-driven decisions. Unlike legacy banks or more traditional sources of funding, the company’s model allows businesses to access funds within days. The terms and conditions are all written in plain language, prioritising transparency and fairness.
Uncapped is available from today to European businesses who take online payments and have at least nine months trading history. It is particularly relevant for companies in sectors including ecommerce, SaaS, direct-to-consumer, gaming and app development.
FinSMEs
02/12/2019