FinTech Uncapped has closed a £200 million debt facility to continue providing funding opportunities for tech founders.
Provided by funds managed by affiliates of Fortress Investment Group, one of the world’s leading investment managers, the financing continues the long-term and fruitful partnership between the two firms.
Uncapped offers capital from £10,000 to £10m for online businesses who are looking to scale. Customers can apply in minutes and get a decision within 24 hours, with no personal guarantees or loss of equity.
Its financing model provides founders with affordable access to working capital at critical moments that allow businesses to scale. This short-term financing option is beneficial for businesses with working capital needs, such as bridging seasonal shortfalls, investing in growth opportunities, or covering unexpected expenses.
Having funded 1,000+ founders to date, Uncapped finances a wide-array of sectors including eCommerce, direct-to-consumer, fashion, software as a service, gaming and app development. Its service is available in the United States, United Kingdom, Germany, Spain and Poland.
“We are delighted to secure this £200m debt facility, as it enables us to extend our reach, empower even more digital businesses and provide access to non-dilutive working capital,” said Piotr Pisarz, CEO & founder of Uncapped.
“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.”
Ola Eriksson, managing director at Fortress, said: “Uncapped’s ability to unlock funding opportunities for digital businesses is remarkable.
“Their commitment to empowering entrepreneurs aligns perfectly with our mission, and we are excited to support their vision.
“This funding will enable Uncapped to fund countless more exciting brands and we look forward to seeing their continued impact at this pivotal economic time.”