Levenue, Europe’s biggest revenue-based financing marketplace, has announced a significant leap in its growth trajectory.
The company has successfully secured €8 million in Series A funding, a round led by the esteemed Truffle Capital, with notable participation from the Freshmen Fund.
According to Financial IT, What sets Levenue apart is its unique approach to financing subscription-based companies. Unlike traditional models, Levenue doesn’t seek equity, thereby preserving founders’ control. Instead, it utilizes forecasted cash flows from existing subscriptions as collateral. This innovative model has garnered over €300 million in deployment to various subscription-based businesses since its 2021 inception.
Further enhancing its capabilities, Levenue recently acquired Cake, a pioneer in open banking and data enrichment technologies. This strategic move aims to refine underwriting processes, enabling Levenue to generate more accurate risk profiles and expedite financing decisions.
Fuelling its pan-European expansion, Levenue operates profitably across 12 countries. In just a year, it has expanded its team by 200%, integrating artificial intelligence and machine learning into its operations for efficient scaling.
The recent funding round, led by Truffle Capital, marks a pivotal moment for Levenue. Truffle Capital’s deep FinTech expertise will significantly aid Levenue’s expansion plans, particularly its anticipated launch in France in Q1 2024.
Benjamin Rieder, CEO & Co-Founder of Levenue, emphasized the platform’s success, stating, “We have established Levenue as a platform where entrepreneurs and investors can connect, fostering the growth of innovative subscription-based businesses. Having facilitated over 300 million EUR in financing in just two years, we’ve proven that there is a significant demand for such a marketplace on both sides.” He also highlighted the strategic acquisition of Cake, reinforcing Levenue’s commitment to enhancing offerings and transparency.
Davy Kestens, CEO of Cake, added, “Both Cake and Levenue’s mission has always been about bringing transparent data solutions to the world. Today, this mission has become much bigger than either of us had ever imagined when we initially started this journey. Challenging the way companies get financed, analysed, and valued is a goal both of our teams are excited to rethink and rebuild.”
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