Novel, a FinTech platform dedicated to providing non-dilutive capital and strategic tools to tech founders, has announced a successful $15m oversubscribed pre-Series A funding round.
The investment round was co-led by IGNIA Partners and Ulu Ventures, with additional participation from MatterScale, Gaingels, and previous investors.
This latest funding round brings Novel’s total funding to over $130m, supporting the company’s mission to revolutionise how tech founders fund and grow their businesses. By harnessing AI, real-time data, and their innovative capital-as-a-service model, the Novel platform equips founders with the essential tools for optimising their capital stack, enabling more strategic fundraising decisions.
The recent downturn in venture capital activity and the collapse of SVB have highlighted the urgent need for growth-oriented tech companies to reassess their capital stack decisions. Novel addresses this need by offering data and insights to support capital strategy decisions, along with alternative financing options for quick and transparent access to capital.
Novel CEO and Co-Founder Carlos Antequera said, ““The tech founder’s journey is often fueled by passion but also filled with obstacles. Grounded in our own entrepreneurial experiences with fundraising and making capital strategy decisions, Novel’s mission goes deeper than funding—it’s about leveraging technology to guide and support entrepreneurs.
“Our Capital Intelligence™ platform and data-driven approach democratizes access to growth capital and strategic tools, ensuring every tech founder has a greater chance to turn their vision into reality.”
Novel’s standout offering, their Capital-as-a-Service model, is a subscription-based capital solution that eliminates costly transaction, draw, and pre-payment fees, as well as warrants. This model puts control firmly in the hands of founders, allowing them to focus on growth without financial constraints.
To date, Novel has worked with over 350 SaaS companies, providing over $100m in non-dilutive funding. Their Capital Intelligence™ platform offers a CEO Dashboard for a bird’s eye view of key metrics and a Valuation Tool to benchmark a company’s worth against thousands of other software companies. Their latest service, VentureMatch™, connects founders with over 100 VC firms for equity financing.
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