Capchase, a provider of non-dilutive capital for recurring revenue businesses, has raised $80m in Series B funding.
The round was led by 01 Advisors, with participation from QED, Caffeinated Capital, Bling Capital, ScifiVC, Thomvest Ventures, Tusk Venture Partners, Invesco and Gaingels also participated in the round.
Founded in May 2020, Capchase helps high-growth, recurring-revenue businesses achieve their top priorities: financing, growing, reaching profitability and expanding margins. The company provides a platform for high-growth companies to access and automate financing via cost effective lending and financing tools.
Since launch, Capchase said it has worked with nearly 3,000 companies across the US and Europe, making over $2bn in funding available to founders.
The company added that it estimates that almost 15% of financing has been extended to female and minority-led businesses â€“ an increase compared to the limited funding these founders typically receive.
Dick Costolo, managing partner and co-founder of 01 Advisors, said, â€œWith more flexible financing options, startups around the world will be able to access critical programmatic funding that is designed for the specific needs of their business and will fuel innovation in ways that haven’t existed before.â€
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