Braavo Capital, a NYC-based provider of non-dilutive financing for consumer subscription apps, raised $5M in Series B funding.
The round was led by existing investors with participation from Series A lead investor Headline, and accompanied by a new $30M debt fund with Upper90.
The company intends to use the funds to expand its growth and partnerships with top-tier brands
Founded in 2015 and led by CEO Mark Loranger, Braavo Capital is a technology-driven financing platform for subscription app businesses. The company offers a range of products, from on-demand receivables financing to multi-million dollar credit facilities. Since its inception, its has facilitated over $1 Billion in financing and supported over 8,000 apps.
Braavo now has offices across North America, with a European hub in Warsaw, Poland.
Commenting on the news, Mark Loranger said: “This new round of equity will fuel Braavo Growth Ventures, an initiative aimed at fostering innovation in the consumer subscription market. While we continue to grow our financing business, we are also excited to apply our years of experience and extensive relationships in the market to embark on this new venture.”
FinSMEs
28/05/2024