Booste helps startups grow by providing revenue-based financing for startups across Poland, with hopes to put down roots across Europe thanks to its latest funding round.
Image source: The Booste team/Booste
Poland-based fintech Booste, which provides revenue-based financing to e-commerce companies, has raised a €12m Series A funding round.
Booste helps e-commerce firms finance their growth through digital ads, marketing campaigns and inventory spend, often receiving an offer within 24 hours and the funds in two days.
The fintech will use the fresh injection of capital to help it realise its own expansion plans, with hopes to launch in other countries across Europe and the UK, as well as growing its 15-person-strong team.
“The past year has seen a surge in e-commerce businesses launching with more people shopping online than ever before. But this means the competition is much harder too,” Jakub Pietraszek, Booste co-founder and CEO, said.
“Booste allows e-commerce business owners to cut through the noise by offering funds they can access and use to grow on their own terms. We’re excited to expand Booste to more businesses across Europe thanks to this funding.”
Its latest funding round comes just a few months after it launched its initial seed funding round in January 2021 and was led by DialCom24, a fintech-focussed VC in Poland.
“We aim at delivering a fast and flawless experience for our customers in the process of receiving financing and repayment,” Michael Kacprzak, co-founder and chief product officer of Booste, added.
“The newly raised capital will enable us to implement further automation and language localization of our service, which will help us deliver on that promise.”
Booste is hoping to tap into the ever-growing revenue-based finance market, which is expected to hit $42.3bn in value by 2027 as more and more startups seek alternatives to VC funding and traditional bank loans.
The revenue-based lending sector is heating up, with two other lenders, Uncapped and Outfund having raised $80m and £37m respectively in the last few months.