Uncapped hires Revolut’s head of business banking Vaidas Adomauskas
Adomauskas will help Uncapped to launch new products on a global scale.
Revenue-based e-commerce lender Uncapped has appointed Vaidas Adomauskas as chief product officer as it doubles down on growth.
Adomauskas also doubled the size of his team and oversaw the launch of SME banking products, such as local USD accounts for UK and EU customers.
“Uncapped’s mission to help digital entrepreneurs grow their businesses by providing quick access to funding and with insights, products and services that will save them time and money will be game-changing for many,” the incoming CPO said.
At Uncapped, Adomauskas will oversee the scaling of funding products globally as well as launching new banking products and services.
”We are delighted that Vaidas is part of the hugely talented team at Uncapped, playing a vital role in our journey to change how funding and banking in a digital economy works,” Piotr Pisarz, co-founder of Uncapped, added.
Founded in 2019, Uncapped is an alternative to traditional debt financing and venture capital, offering companies with growth finance for a flat fee that goes as low as six per cent.
Currently, Uncapped lends working capital to online businesses with at least six months of trading activity and revenues of at least £10,000/month and extends capital of anywhere between £10,000 and £5m.
Repayments are based on revenue and the cash comes with a flat fee which doesn’t compound.
Earlier this year, Uncapped closed an $80m funding round from existing investor Lakestar to help it continue to grow at pace.
With the fresh funding, Uncapped is planning to launch a range of credit products as well as offering financial insights for its customers based on their cash flow further down the line.
Uncapped has made over 500 investments in digital companies across 13 markets to date.