Revenue-based investing marketplace Levenue has secured €8 million in a Series A funding round and acquired Cake, a bank transaction enrichment expert.
Truffle Capital led the funding round for Levenue, which enables subscription-based companies to leverage the forecasted cash flow from their existing subscriptions as collateral for non-dilutive financing from institutional investors. Operating in 12 countries across Europe, the marketplace has facilitated over €300 million in total financing since its inception in 2021. The new funding will be utilized to enhance growth, including a planned launch in France early next year.
Additionally, the company is enhancing its underwriting process through the acquisition of Cake, which specializes in open banking and data enrichment technology. This will help create more accurate risk profiles and enable faster financing decisions.
Benjamin Rieder, CEO of Levenue, stated: “The acquisition of Cake was driven by our continuous commitment to enhancing our offerings and improving transparency for our users.”