Uncapped, a London-based start-up changing the way online companies fund their growth and inventory costs, has today announced that it will offer 1,000 European founders up to £50,000 in fee-free capital. Uncapped’s fee-free funding offer is inspired by its founders’ own frustrating experiences of getting funding for their first businesses. It also meets the needs of the thousands of start-up brands, particularly in the eCommerce sector, who missed out on vital growth opportunities in 2020’s Golden Quarter because they could not access the capital they needed from traditional funding sources.
Uncapped has seen a 28 per cent rise in funding applications in advance of Black Friday, driven by growing numbers of eCommerce businesses looking to borrow funds now to secure the future success of their businesses. These eCommerce entrepreneurs are turning to Uncapped for their funding as the lender offers an alternative to traditional debt financing and venture capital, providing companies with growth finance for a flat fee that goes down to 6 per cent, and fast-released capital. Businesses repay the capital as they make revenue. There is no set repayment and no compounding interest, equity or personal guarantees. There are even no credit checks or business plans required.
Uncapped’s founders, Asher Ismail and Piotr Pisarz, set up the company in 2019 to meet the finance needs of digital-first entrepreneurs. They has seen a sharp rise in demand for the services offered since launch with Uncapped claiming to have grown to become the largest eCommerce investor in Europe, now funding more businesses each day than a typical VC will fund in a year. The company has enjoyed 10x year on year growth to the month of September 2021 – Uncapped deployed more funding in September 2021 than it did in the whole of 2020.
Uncapped has been praised by the startup community including the founders of Wise, Butternut Box, Marshmallow, and Mahabis for how it has modernised fundraising.
Piotr Pisarz, co-founder of Uncapped, said: “As startup founders ourselves, we felt it was vital to help our fellow founders secure inventory finance in advance of Black Friday. Our economy is changing, with digital native businesses contributing an ever-increasing share to overall GDP. It is in everyone’s interest to ensure these businesses are successful, yet time and again we see their need for fast, flexible finance is not met. We’re delighted to offer them a valuable boost to their business by making it easier and cheaper to secure finance to drive their company’s future success.”
Share