Capchase, a Cambridge, Ma.-based online platform for SaaS companies to get cash from accounts receivable, raised $4.6m in seed funding.
Backers included Caffeinated Capital, Bling Capital and SciFi VC, along with BoxGroup, ONEVC, Amara Venture Partners and Lorimer Ventures, and a number of angels.
The company intends to use the funds to continue to expand operations and its business reach.
Co-founded by Miguel Fernández, CEO, Luis Basagoiti, Ignacio Moreno, and Przemek Gotfryd, Capchase provides a solution for SaaS companies to finance growth of their operations with cash tied up in future monthly payments.
The company, which has just launched publicly, aims to work with SaaS companies of any shape and size.
A post on the website exlains the service.