Netherlands-based financing platform Levenue has purchased FinTech Requr for an undisclosed fee.
According to FinTech Futures, the acquisition by Levenue is a bid to unlock a new way of funding software-as-a-service companies across Europe, with the acquirer claiming it aims to capitalise on the growing popularity of revenue-based financing (RBF) – something that enables company founders to get funding by leveraging recurring revenues.
Revenue-based financing is a way that firms can raise capital by pledging a percentage of future ongoing revenues in exchange for money invested. Company founders don’t have to give up on equity or collateral but instead a percentage of revenues of a fixed total of periodic revenues.
Levenue noted that the acquisition of Reque has strengthened its position as the ‘one-stop-go-to funding solution’ for European subscription-based companies. It also mentioned it hopes Requr’s network of SaaS founders will integrate well with its own network of investors.
Requr’s founders added that they believe their data flow, underwriting and data analysis model will work well with Levenue’s technological capabilities, international team, marketing strategy and experience.
In August last year, Requr raised $5m in growth capital from a group of undisclosed investors to expand its SaaS platform.
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