Miguel Fernandez Larrea, Co-founder and CEO
Co-founded by Miguel Fernández, CEO, Luis Basagoiti, Ignacio Moreno, and Przemek Gotfryd, Capchase offers a solution for SaaS companies to finance the growth of their operations with cash tied up in future monthly payments.
FREMONT, CA: Capchase, a Cambridge, Ma.-based online platform for SaaS companies to get cash from accounts receivable, closed $4.6m in seed funding.
Investors included Caffeinated Capital, Bling Capital, and SciFi VC, along with Amara Venture Partners BoxGroup, ONEVC, and Lorimer Ventures, and a number of angels.
The company plans to use the capital to continue to expand operations and its business reach.
Co-founded by Miguel Fernández, CEO, Luis Basagoiti, Ignacio Moreno, and Przemek Gotfryd, Capchase offers a solution for SaaS companies to finance the growth of their operations with cash tied up in future monthly payments.
The company, which has just launched publicly, aspires to work with SaaS companies of any shape and size.
“We’re targeting B2B SaaS or ‘X-as-a-service’ companies with recurring revenue, and we’re targeting companies around the seed to Series B/C stage having more than $1 million of ARR and at least eight months of revenue generating history,” Miguel Fernández, CEO and co-founder, said.
Capchase is an online platform for quickly getting cash from one’s accounts receivable. Startups upload key details of their customer contracts and financial history to Capchase. The company utilizes its underwriting algorithms to quickly evaluate the quality of those contracts and extend a debt line. The startup calls itself part of the “non-dilutive revolution” and headquartered in Boston.
