Uncapped, a London, UK-based provider of a platform for online companies to fund their growth and inventory costs, raised $80m in funding.
The round, which brought the total capital raised to date to $120m, was led by Lakestar, with participation from existing investors (which include Mouro Capital, Global Founders Capital, White Star Capital, Seedcamp, and All Iron Ventures).
The company intends to use the funds to expand its business reach with a host of new products and services due to launch in the near future, to increase its headcount from 35 to 100 people by the end of the year, with a particular focus on engineering and product roles.
Founded in 2019 by Piotr Pisarz and Asher Ismail, Uncapped provides founders with business advances of between £10k and £5m for a flat fee as low as 6%. Businesses only repay the capital as they make revenue with no set repayment and no compounding interest, equity or personal guarantees, and there are no credit checks or business plans required.
While the company operates on a fully remote basis, most employees are situated in the UK, Germany and Poland.