Berlin, June 4th 2024 – Financing and data insights company re:cap today announced its Series A funding round of USD 14.6m and the release of its proprietary software as a service (SaaS) platform. The funding round was led by Entrée Capital and included participation from further existing shareholders Felix Capital and Project A, following 24 months of rapid growth for re:cap. With the new funding, the company is positioned to further expand its successful alternative debt financing business and marketplace and to scale its software platform.
“Since day one, our mission has been to build a platform that connects businesses with investors, enabling better decision-making for providers of capital and better financing options for businesses. As a first step, we built an industry-leading debt financing product. In parallel we created a powerful software suite for both investors and businesses. Today, in conjunction with our Series A capital raise, we are announcing the general release of our investor SaaS platform re:cap Institutional and our cash flow software Cash Insights. It’s a great sign that our strong investor base is doubling down on this opportunity”, says Paul Becker, co-founder and CEO of re:cap.
The Series A along with the release of re:cap’s software platform mark a crucial point in the company’s history. With re:cap Institutional, the company is offering a data-driven software platform for modern investors. re:cap Institutional is built on re:cap’s own underwriting and monitoring platform. The platform was developed and continuously optimized using insights from over a thousand businesses and a multitude of real-time business data sources. With Cash Insights, which was previously only available in combination with alternative funding from re:cap, the company is also launching a cash flow management software solution for businesses.
The first customers using re:cap Institutional include London-based investment firms Avellinia Capital and Channel Capital. They use re:cap Institutional to monitor the cash flow of their portfolios in real time, automate data collection and processing, and set up smart early warning systems. Portfolio companies also benefit from the software. It gives them access to an out-of-the-box solution for holistic cash management with features such as real-time cash flow monitoring, cash based profit and loss statements and insights into their profitability and runway.“re:cap’s platform allows us to identify potential constraints at our portfolio companies, which ultimately helps us to be better partners and investors. We have been impressed by the initial product and continuous improvements. The team has been exceptionally responsive and customer-focused”, says Julian S. Schickel, Partner at Avellinia Capital.
re:cap’s funding round takes place on the back of strong company growth, coming from re:cap’s position as a trusted alternative debt funding provider. In the past year the company has grown its deployed funding volume and its ARR (annual recurring revenue) by 4x. The deployed funding volume is in the high double-digit millions. re:cap offers a long-term debt funding product in partnership with HSBC Innovation Banking to tech companies. The company also launched a short-term funding product for services businesses last year – highlighting re:cap’s overall growth ambitions in the debt funding space.“The re:cap team has impressed us from day one with their tremendous execution. The combination of their knowledge of the financial services sector, their track record and their expertise in tech and data give them a great foundation to build a global software and financing powerhouse“, says Avi Eyal, Managing Partner at Entrée Capital.
Founded in Berlin in 2021, tech company re:cap operates a financing and data insights platform. On the one hand, re:cap uses this platform to provide alternative debt financing and insights to tech and services businesses in Germany and the Netherlands. On the other hand, re:cap Institutional is a decision-making platform for institutional investors, allowing them to turn data into game-changing insights for better financing decisions. re:cap was founded by fintech experts Paul Becker (CEO) and Jonas Tebbe (CPO), who previously co-founded wealth tech pioneer LIQID. Leading tech investors Entrée Capital, Felix Capital, Project A, and Mubadala Capital have invested in re:cap.
Press contact:
Philipp Blankenagel | press@re-cap.com
Website: www.re-cap.com
LinkedIn: linkedin.com/recapnow
Entrée Capital is a global venture capital firm founded in 2010 by Avi Eyal. With its headquarters in Tel Aviv, Israel, and additional offices in London and New York, the firm manages $1.25 billion across nine funds. As a generalist venture capital firm, Entrée Capital specializes in a wide range of sectors including Deep Tech, AI, Fintech, Cyber and SaaS, providing support to innovative startups from pre-seed to growth stages.
The firm's extensive portfolio boasts over 180 high-profile companies, such as monday.com, Riskified, Rapyd, Cazoo, Coupang, Snapchat, Breezometer, Deliveroo, Fundbox, Glovo, Postmates, Stash, and PillPack. Entrée Capital’s portfolio companies have a combined valuation exceeding $335 billion and operate across diverse global markets including the US, the UK, Europe, Israel, Australia, Africa, India, and the United Arab Emirates.
Entrée Capital has successfully facilitated more than 30 exits and IPOs, with significant public listings in 2021, including Deliveroo, Cazoo, Coupang, Riskified, and monday.com. With 18 unicorn companies in its portfolio, the firm is recognized for its significant impact and leadership in the venture capital landscape. It was ranked as the 4th most prominent fund in Europe by Dealroom.co, the most active fund in Israel according to IVC, and Managing Partner Avi Eyal was named a Top Investor in Europe and the Middle East on the Forbes Europe Midas List.
For more information, visit Entrée Capital's website.
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