Uncapped secures £200m debt financing to fund more founders

Uncapped has closed a £200m debt facility to grow its funding opportunities for digital entrepreneurs in the US and Europe.

The fintech provides founders with loans ranging from £10,000 to £10m for online businesses looking to scale, and has funded more than 1000 founders so far.

Borne out of a frustration with the existing funding options available to entrepreneurs, former VC Piotr Pisarz founded Uncapped to shake up the traditional funding model.

The facility to expand the company’s reach was provided by New York-based Fortress Investment Group, continuing the partnership between the two firms.

“We are delighted to secure this £200 million debt facility, as it enables us to extend our reach, empower even more digital businesses and provide access to non-dilutive working capital,” CEO Pisarz said.

“Our goal is to fuel the success of these exciting and innovative businesses by providing them with tailored funding options that align with their unique needs.”

Providing businesses with a flat fee repayment structure starting at two per cent, Uncapped provides no-security and no-equity investments focusing on getting capital to companies quickly so they can spend less time fundraising and more time building.

The company provides funds to a number of sectors, including e-commerce, software as a service, app development and gaming and is currently available in the UK, US, Germany, Spain and Poland.

Uncapped says businesses can apply in minutes and get a decision in 24 hours on its “founder-friendly capital”.