Financing and data insights company, re:cap, has announced the completion of its Series A funding round, raising $14.6m.
The round was led by Entrée Capital, with participation from existing investors Felix Capital and Project A.
Founded in Berlin in 2021, re:cap provides alternative debt financing and data insights to tech and services businesses in Germany and the Netherlands. The company also operates re:cap Institutional, a decision-making platform for institutional investors.
The newly raised funds will be used to expand re:cap’s alternative debt financing business and marketplace, and to scale its proprietary software platform. This includes the general release of re:cap Institutional, a data-driven platform for investors, and Cash Insights, a cash flow management software for businesses.
The first customers of re:cap Institutional include asset managers Avellinia Capital and Channel Capital, who use the platform for real-time cash flow monitoring and data automation.
Julian S. Schickel, Partner at Avellinia Capital, said, “re:cap’s platform allows us to identify potential constraints at our portfolio companies, which ultimately helps us to be better partners and investors. We have been impressed by the initial product and continuous improvements. The team has been exceptionally responsive and customer-focused.”
Paul Becker, co-founder and CEO of re:cap, said, “Since day one, our mission has been to build a platform that connects businesses with investors, enabling better decision-making for providers of capital and better financing options for businesses. As a first step, we built an industry-leading debt financing product. In parallel we created a powerful software suite for both investors and businesses.
“Today, in conjunction with our Series A capital raise, we are announcing the general release of our investor SaaS platform re:cap Institutional and our cash flow software Cash Insights. It’s a great sign that our strong investor base is doubling down on this opportunity.”
The funding comes after a period of rapid growth for re:cap, which has seen its deployed funding volume and annual recurring revenue (ARR) increase by four times over the past year. The company has also launched a long-term debt funding product in partnership with HSBC Innovation Banking and a short-term funding product for services businesses.
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