Novel Capital, a Kansas City, KS-based revenue-based financing platform, raised $115M in initial equity and debt funding.
The backers remained undisclosed.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Carlos Antequera, CEO, and Keith Harrington, COO, Novel Capital is an innovative growth platform, providing capital and online resources to enable companies with recurring revenue to accelerate growth.
The company offers two revenue-based financing products which give entrepreneurs on-demand access to the type of capital that best meets their current and future business needs:
- RevShare Capital™: Gives companies up to 30% of their expected annual revenue today, in exchange for a percentage of future monthly realized revenue for the next 36 months.
- Upfront Capital™: Gives companies instant access to future subscription revenue for one simple upfront fee.
Entrepreneurs seeking funding submit their basic company information and connect financials and bank accounts on the online platform. From there, Novel Capital will analyze key company data points to determine the appropriate amount of capital they can receive. Once a company is approved and on the platform, it can access additional capital on-demand as they continue to grow and generate more revenue.
FinSMEs
17/03/2022