Uncapped, a London, UK-based growth finance company for online brands to fund marketing and inventory, raised $26m in debt and equity funding.
The round was led by Mouro Capital with participation from All Iron Ventures and existing investors Global Founders Capital, Seedcamp, and White Star Capital, as well as angel investors/founders, Taavet Hinrikus (Transferwise) and Carlos González-Cadenas (GoCardless), among others.
Founded by entrepreneur Asher Ismail and venture capital investor Piotr Pisarz, Uncapped has developed a technology platform that provides founders with business advances of between £10k and £2m for a flat fee of 6% in a day, without credit checks, personal guarantees, warrants, equity, or compounding interest.
Companies in sectors such as ecommerce, software as a service (SaaS), direct-to-consumer (DTC), gaming and app development only repay the capital as they make revenue with no set repayment date and no compounding interest, equity or personal guarantees. Uncapped is available to businesses that take online payments, have at least €10,000 of monthly sales and a trading record of at least six months.