Tangible, a FinTech platform that enables HardTech companies to access and manage debt financing, has raised a £3.2m seed round led by Pale Blue Dot, with participation from MMC, Future Positive Capital, Unruly, SDAC, Prototype Capital, and Aperture.

HardTech is central to solving the biggest macroeconomic themes of our generation – the energy transition, compute buildout, transport, and reindustrialisation.

However financing these companies efficiently can be difficult. Hard asset companies need significant funding, but most companies struggle to obtain scalable debt financing until they are deemed mature or ‘institutional-ready’. As a result, many earlier-stage companies fund their capex with expensive equity, slowing deployment, compounding dilution, and often jeopardising company survival. Conversely the best companies in this category are leveraging their capital intensity, as a strategic tool for growth.

Tangible was set up to solve this problem. Tangible’s AI-powered platform and finance experts standardise the data, documentation, and ongoing reporting that lenders need. This reduces underwriting time and cost for lenders, and enables founders to run structured facilities without building an in-house structured finance team.