FinTech Founderpath has secured $10m in new debt funding, but hints that an even larger raise may only be months away.
The startup was founded in 2019 to help finance SaaS companies and is apparently close to approving $1m in loans every week, according to Crunchbase.
A smattering of angel investors backed the round, including the co-founder of Rackspace Pat Condon, the co-founder of Grasshopper David Hauser, the co-founder of Webmail Bill Boebel and Dan Martel, founder of Clarity.fm.
While the company is excited about the new fund, it is only the next step for the company, said founder Nathan Latka.
“This should last us four or five months,” Nathan Latka, founder of Founderpath told Crunchbase, adding the company could announce another and even bigger raise in just a few months time.
Founderpath offers loans to SaaS companies based on their monthly recurring revenue and a SaaS credit score.
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