Home Banking Fintech start-up Capchase raises $280m in funding to drive development

Fintech start-up Capchase raises $280m in funding to drive development

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New York-based fintech Capchase has raised $280 million in new debt and fairness funding led by i80 Group.

capchase

The agency is planning to scale throughout Europe

The financing follows a $125 million Series A funding round for the agency simply final month.

The corporate says the extra funds will assist to additional gas its development throughout Europe.

Capchase claims to have made round €100 million accessible to greater than 50 firms in its first month of operation within the area.

At the moment accessible within the UK and Spain, it expects to go reside throughout extra European nations within the subsequent six months.

Since its launch in 2020, Capchase says it has issued credit score to greater than 600 firms.

The fintech supplies financing to recurring-revenue firms to unlock money that’s in any other case tied up in future funds.

By advancing future revenues, firms can then finance the expansion of their operations with out depleting their money reserves.

The agency has additionally launched Capchase Expense Financing, a brand new purchase now, pay later (BNPL) product that permits firms to separate giant bills akin to payroll over time with mounted reimbursement phrases.

Miguel Fernandez, co-founder and CEO of Capchase, says the answer is “a primary within the trade”.

He provides that the service permits purchasers to “pay upfront with Capchase, get a reduction, and pay Capchase month-to-month over the next months”.

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