Mouro Capital leads $26m financing round in Uncapped, which provides non-dilutive funding to European entrepreneurs
Uncapped’s technology provides founders with growth finance for a flat fee of 6% in a day. Businesses only repay the capital as they make revenue with no set repayment date and no compounding interest, equity or personal guarantees. Uncapped is available to businesses that take online payments, have at least €10,000 of monthly sales and a trading record of at least six months. It is a solution that has broad appeal, but ideal for companies in sectors such as ecommerce, software as a service (SaaS), direct-to-consumer (DTC), gaming and app development.
This funding announcement comes following huge demand from European entrepreneurs for this fair and flexible solution to their financing plans. Spain was the next market for Uncapped because the local startup ecosystem has been growing rapidly. Uncapped is the first investment by Mouro Capital, the $400M assets under management fund targeting early to growth fintech investment opportunities across Europe, North America and Latin America and recently spun-out of Banco Santander.
Asher Ismail, co-founder of Uncapped, said: “Uncapped was born out of frustrations I faced launching and running my first business. I couldn’t take financing and venture capital wasn’t ideal either as I didn’t want to lose equity, so I repeatedly missed out on growth opportunities. With this further funding Uncapped is ideally positioned to help hundreds of more businesses across Europe and Spain grow to their full potential.” Piotr Pisarz, co-founder, said: “As a VC I met hundreds of founders who had great businesses but needed a better funding model. Often founders would give up equity to finance marketing and inventory expenses because they had no other choice. We started Uncapped so entrepreneurs could access funding on their terms and spend their time executing rather than fundraising.’’