Revenue-based investing marketplace Levenue has raised €8 million in a Series A funding round and acquired bank transaction enrichment expert Cake.
Truffle Capital led the round for Levenue, which lets subscription-based companies sell the forecasted cash flow of their existing subscriptions as collateral for non-dilutive financing to institutional investors.
Operating in 12 countries across Europe, the marketplace has seen investors provide over €300 million in total financing since its launch in 2021. The new funding will be used to scale growth, with a launch in France set for early next year.
Meanwhile, the company has moved to improve its underwriting process by acquiring Cake, the developer of open banking and data enrichment technology that will help create more accurate risk profiles and offer faster financing decisions.
Benjamin Rieder, CEO, Levenue, says: “The acquisition of Cake was driven by our continuous commitment to enhancing our offerings and improving transparency for our users.”