B2B lender Founderpath, which helps businesses get access to short-term cash, has reportedly raised $145m in a mix of debt and equity.
The company has deployed over $60m in capital to 130 SaaS founders since its launch in 2020, according to a report from TechCrunch. In the past year, it has deployed $50m, with more than half of that happening in the last four months.
Forbright Bank led the $135m debt deal, while Singh Capital Partners led the $10m equity injection. There were also commitments from ZoomInfo, Brandwatch, Truebill, Par Tech and others.
Founderpath was founded by Nathan Latka after firsthand experience on giving up too much of a stake in a startup he had founded.
The B2B lender is aimed at bootstrapped SaaS founders and helps them transform their monthly subscriptions into upfront cash. It claims to be the only company that will offer more than 12 months to pay back, has a discount rate as low as 8% and lets people prepay at any time without any penalties or fees.
In addition to financing, Founderpath offers tools to help a business grow. It offers real-time insights to track business metrics, customer metrics and track spending.
Last year, Founderpath raised $10m in debt from a group of angel investors, including Rackspace Pat Condon, the co-founder of Grasshopper David Hauser, the co-founder of Webmail Bill Boebel and Dan Martel, founder of Clarity.fm.
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