Braavo Capital, an integrated financing platform for mobile app developers, has raised $6m in its Series A round.
e.ventures led the investment with participation also coming from SWS Venture Capital and Shipt CEO Bill Smith. The round also included a £2m seed capital injection from SV Angel and BoxGroup.
Following the series, Braavo has raised just under $8m in equity injections since its launch in 2015. The company did previously bag $70m in debt last year from a number of angel investors, and family offices within the FinTech and mobile ecosystem.
New York-based Braavo is an on-demand financing platform for mobile app businesses. The platform, which automates the financing process, uses real-time business data to offer two credit products based off of current and future earnings.
One of its financial products is a weekly revenue acceleration credit line, which provides early access to earnings from app stores and ad networks, to enable cash flow maximisation and speed up reinvestment. Braavo’s other finance option uses algorithms to track and analyse performance in real time, to offer the right funding the company needs.
This capital injection will be used to build out its current team and to scale its operations. Braavo is looking to launch a new business intelligence analytics tool which will help mobile app companies get real-time insights on performance.
e.ventures partner Brendan Wales said, “As active investors in the mobile ecosystem, we were blown away by the power of the Braavo platform. Their unique approach of using real-time business data to deliver affordable financing and targeted insights is transformative — both for the founders with whom they work and the tech investment industry as a whole.”
Braavo’s business intelligence analytics tool, which aims to boost revenue of mobile apps, is free until the end of 2018.
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