Uncapped is a Warsaw based startup company and the headquarter of it is in London. Uncapped is looking forward to providing a revenue-based finance to the expanding European businesses and now they have disclosed that Uncapped has raised £10 million fund. The capital is combination of debt and equity funding. It also sees the fintech company backed by the Rocket Internet’s Global Founders Capital, Seedcamp and the White Star Capital.
It is clear that a number of angel investors participated as well including Robert Dighero, the Partner at the Passion Capital, Carlos Gonzalez Cadenas, the COO of the GoCardless and Kevin Glynn and David Nolan, the Founders of the Butternut Box.
Particularly, the Uncapped has said that it would enable the founders to access the working capital in the range of £10000 to £1 million for flat free of 6% interest. It has been pitched as smarter alternative for the developing companies which don’t want to give away their equity in exchange for their capital to aid growing. Asher Ismail, the CEO of the Midrive said that the Uncapped provided the entrepreneurs with the access to the capital without the necessity for credit checks, personal guarantees, equity or warrants. Besides it also promised to move quicker than the investors. He also said that they didn’t require the customers to share their business plans along with the pitch decks and cap tables, and all that they need was to verify the performance of the business. They connected to the existing sales as well as the marketing platforms of the business such as Shopify, Facebook and Stripe.