Novel Capital, a FinTech company helping businesses accelerate growth, has exited stealth with $115m in initial equity and debt funding.
Novel Capital said it provides an alternative funding method to entrepreneurs that is simpler and less risky than bank debt and does not require founders to give up equity or control. The company’s online platform offers revenue-based financing products specifically tailored to growing software companies.
Novel Capital offers two revenue-based financing products. RevShare Capital gives companies up to 30% of their expected annual revenue today, in exchange for a percentage of future monthly realised revenue for the next 36 months. UpFront Capital gives companies instant access to future subscription revenue for an upfront fee.
Carlos Antequera, Novel Capital CEO and co-founder, said, “Prior to co-founding Novel Capital, I was the CEO of an EdTech SaaS company, and like many other entrepreneurs, my company could not attract the capital we needed to accelerate our growth despite our growing customer base and recurring revenue.
“This experience made me realize the need for a company like Novel Capital. We want to provide simple, fair access to on-demand capital and support, so that entrepreneurs can focus on business growth, not fundraising.”
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