New York-based Capchase, which provides non-dilutive financing to high-growth B2B SaaS companies, has secured a €105 million credit facility to drive expansion in Europe. The new financing, led by Deutsche Bank and i80 Group, raises to over $1 billion the combined debt and equity financing the company has raised since its founding in 2020.
“We put this new warehouse in place in response to a growing demand for non-dilutive funding by SaaS companies in Europe and the U.K.,” said Capchase co-founder and CEO Miguel Fernandez, an engineer with an MBA from Harvard Business School. “This additional funding opens up new options to allow SaaS companies to accelerate growth without sacrificing equity.”
U.S. Still a Bigger Market
“Over the past year, there has been a growing interest among European startups in non-dilutive funding as founders seek alternative ways to enhance their cash flow amidst increasingly challenging conditions for securing venture capital,” added Fernandez, who has studied and worked across Europe.
In 2023, non-dilutive funding activity to European startups surged by nearly 50%, as venture capital funding in the region fell by more than 45%, Capchase said. The United States still accounts for 80% of its business, with the rest in Europe. In an interview to TechCrunch, Fernandez said venture debt was the company’s biggest competitor.
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Capchase’s co-founders include Chief Operating Officer Przemek Gotfryd, Luis Basagoiti Marqués, Ignacio Moreno Pubul and Luis Basagoiti Marqués, all based in Europe. Its suite of products includes Grow, Pay, Collect and Infra, which, among other things, speed up invoice collections and accelerate their digital lending roadmap. Grow, for example, made more than $2 billion in funding available to the SaaS industry.
Over the last two years, Capchase has deployed more than $100 million in funding to women and minority-led startups.
Capchase operates in 10 countries in North America and Europe. In 2023, it was named in Fast Company’s Most Innovative Companies and Forbes’ Next Billion Dollar Startups.
