Founded 2015, Toronto. Series D company, 166 employees. Raised $775M from SoftBank, Inovia Capital, Founders Circle Capital; $2B valuation. Portfolio incl. Leesa Sleep, Le Tote, Public Goods, UNTUCKit, Expressable. Claims world's largest eCommerce investor. Targets scaling DTC brands, e-commerce/SaaS with 12+ months revenue, £100k+/month. Value-add: rapid underwriting (24-48 hrs), AI-driven data models, founder network access.
Investment Focus
Investment Thesis
Revenue-based financing for e-commerce & SaaS, seed to growth stage. Raised $775M across 9 rounds; valued $2B (2021). No equity dilution, non-dilutive capital via revenue-share model (1-20% monthly revenue). £10k-£10m check size typical. Products: Rolling Funding (replenishes as you pay), Invoice Funding, Cash Advance. Built for D2C brands with daily demand fluctuation; payments flex with sales. Deployed to 7,000+ companies globally. Avoids: traditional VC dilution, rigid repayment schedules, borrowers without 12+ months revenue history.
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