Mouro Capital, the most recent iteration of Santander’s fintech fund Santander Innoventures, has made its first investment since its rebrand with funding for European fintech Uncapped…
Several notable angels also participated in the round including, CEO and co-founder of TransferWise Taavet Hinrikus, co-founder and executive chair of LendInvest Christian Faes and chief operating officer of GoCardless Carlos González-Cadenas.
[Uncapped] provides startups with revenue-based finance from £10,000 up to £2m for a flat fee of six per cent per day.
[Co-founder of Uncapped:] “Uncapped was born out of frustrations I faced launching and running my first business. I couldn’t take financing and venture capital wasn’t ideal either as I didn’t want to lose equity, so I repeatedly missed out on growth opportunities.”
As it specialises in revenue-based finance, businesses only repay the capital as they generate revenue, with no repayments date, compounding interest or personal or equity guarantees.