Ampla Technologies, a startup which provides financing to small-to-medium sized consumer-facing businesses, has raised $40m in Series A funding co-led by VMG Partners and Forerunner Ventures, a report by Coverager has revealed.
Existing backer Core Innovation Capital also participated in the round. In conjunction with the equity investment, Ampla has also secured $250m in a debt facility so that it can begin financing brands. The capital infusions bring the New York-based startup’s total funding to $50m in equity and $330m in debt financing since its 2019 inception.
Ampla said it plans to use its new capital hire more talent across product, technology, sales and operations.
Cash outlays required for inventory and marketing create huge working capital challenges. These challenges increase with scale and restrict growth, Ampla explained. The company sets out to solve these cash flow problems and accelerate growth. Its platform provides accessible capital to build business in industries such as eCommerce and retail.
Ampla claims that its differentiator is that it provides businesses with a line of credit that includes “omnichannel” revenue streams in underwriting. The company’s goal, according to Ampla CEO and founder Anthony Santomo, is to give founders access to more capital at lower costs.
“By the full omnichannel view, we mean that we are able to look at not only e-commerce revenue streams but also retail revenue streams to capture the entire commerce view,” he said.
Copyright © 2021 FinTech Global
