Uncapped, a leading fintech revolutionising funding for digital entrepreneurs and high-growth businesses, is thrilled to announce the successful closure of a €230 million debt facility. Provided by funds managed by affiliates of Fortress Investment Group LLC (“Fortress”), one of the world’s leading investment managers, the financing continues the long-term and fruitful partnership between the two firms.
Founded in 2019, Uncapped offers simple, reliable capital from £10K to £10 million for online businesses that are looking to scale. Customers can apply in minutes and get a decision within 24 hours, with no personal guarantees or loss of equity. Its financing model provides founders with easy and affordable access to working capital at critical moments that allow businesses to scale. This short-term financing option is beneficial for businesses with working capital needs, such as bridging seasonal shortfalls, investing in growth opportunities, or covering unexpected expenses.
“We are delighted to secure this £200 million debt facility, as it enables us to extend our reach, empower even more digital businesses and provide access to non-dilutive working capital,” said Piotr Pisarz, CEO & Founder of Uncapped. “Our goal is to fuel the success of these exciting and innovative businesses by providing them with tailored funding options that align with their unique needs.”
Having funded 1000+ founders to date, Uncapped finances a wide-array of sectors including ecommerce, direct-to-consumer (DTC), fashion, software as a service (SaaS), gaming and app development. Its service is available in the United States, United Kingdom, Germany, Spain and Poland. Uncapped has supported the success of a diverse group of passionate founders. For example, NutriPaw, a pet supplement brand founded by dog lovers Adelina and Connor in 2020, struggled to keep up with the growing demand for their products. Uncapped recognized their vision and provided them with over £1.95 million in funding across 10 facilities, enabling NutriPaw to scale their business by 5x in just 9 months and explore new growth opportunities with new products and regions.
“Uncapped’s ability to unlock funding opportunities for digital businesses is remarkable,” commented Ola Eriksson, Managing Director at Fortress. “Their commitment to empowering entrepreneurs aligns perfectly with our mission, and we are excited to support their vision. This funding will enable Uncapped to fund countless more exciting brands and we look forward to seeing their continued impact at this pivotal economic time.”
Read the orginal article: https://www.eu-startups.com/2023/10/london-based-uncapped-secures-e230-million-to-expand-funding-opportunities-for-founders-in-us-and-europe/
