Fintech start-up Capchase raises $280m in funding to drive growth
New York-based fintech Capchase has raised $280 million in new debt and equity funding led by i80 Group.
The firm is planning to scale across Europe
The financing follows a $125 million Series A funding round for the firm just last month.
The company says the additional funds will help to further fuel its growth across Europe.
Capchase claims to have made around €100 million available to more than 50 companies in its first month of operation in the region.
Currently available in the UK and Spain, it expects to go live across more European countries in the next six months.
Since its launch in 2020, Capchase says it has issued credit to more than 600 companies.
The fintech provides financing to recurring-revenue companies to unlock cash that is otherwise tied up in future payments.
By advancing future revenues, companies can then finance the growth of their operations without depleting their cash reserves.
The firm has also launched Capchase Expense Financing, a new buy now, pay later (BNPL) product that allows companies to split large expenses such as payroll over time with fixed repayment terms.
Miguel Fernandez, co-founder and CEO of Capchase, says the solution is “a first in the industry”.
He adds that the service allows clients to “pay upfront with Capchase, get a discount, and pay Capchase monthly over the following months”.
