Uncapped is a fintech company based in London, England. Uncapped provides founders with fixed-term loans and revenue-based financing without personal guarantees or equity commitments. Founders seeking investment can apply online and receive funds within 24 hours, for as little as a 2% fee (Source - July 2022).
About Uncapped
Founded by Asher Ismail and Piotr Pisarz in September 2019, Uncapped was created to help new founders raise capital without losing equity.
When applying for funding with Uncapped, companies don’t need credit checks or business plans to receive funds. Also, there is no compounding interest, personal guarantee, or set repayment amount requirements. A flexible repayment system allows businesses to make payments as they earn revenue. So, if revenue slows down daily, or weekly, repayment is reduced accordingly.
So far, companies that have received funding from Uncapped include Brand24, Itch, Marshmallow, and Mahabis (Source - August 2022)
Eligibility and Products Offered
Funding from Uncapped is open to businesses with an online business model, including e-commerce, subscription, mobile app, D2C, and SaaS. Startups seeking funds with Uncapped must have at least $10,000 in monthly revenue with more than six months’ record of trading. (Source - August 2022)
Funding amounts range from $10k - $10M, and can be funded in as little as 24 hours starting with a flat fee of 2%. Uncapped practices a transparent system with no hidden fees, so founders know the exact amount they will repay. (Source - August 2022)
Upon creating an account with Uncapped, founders can choose from a range of available offers. Upon selecting a funding amount, applications are processed within 24 hours and borrowers are charged a flat fee of 2%. Uncapped offers fixed-term loans and revenue-based financing.
When it comes time for repayment, businesses can spread their repayments in daily or weekly installments. Since it’s revenue-based without a set repayment system, businesses are able to make payments when they make sales. However, a fixed percentage of their daily sales will be deducted until the initial capital commitment and flat fee are regained. There is also no interest, application, or arrangement fees, only a flat fee on the funds provided. (Source - August 2022)
Uncapped aims to grow with businesses, so rather than one-off lending experiences, they allow startups to acquire additional capital as their businesses expand.
How to Apply
To apply for funding, founders must visit the sign up portal where they will be asked to input their business name, website and work email. Founders must also connect their payment accounts (Stripe, Xero, Amazon, etc.) and select the amount of capital they need and choose the most suitable repayment timeline. Afterwards, the flat fee rate is calculated and founders will know the exact repayment amount (Source - August 2022). Upon approval, funds are usually available within 24 hours.
Capchase vs. Uncapped
In addition to financing using Uncapped, founders and startups can work with Capchase. When compared to Uncapped, Capchase’s funding model is designed to remove excess fees that can save clients up to 50% when compared to traditional venture debt providers (Source – June 2022).
It can be helpful to see the differences between Capchase and Uncapped side-by-side. This is especially true for key areas like speed to funding, flexibility, structure & fees, and value add.
Speed
Capchase
24 hours to underwrite (led by a tech-driven & highly responsive underwriting system)
Uncapped
24 hours to underwrite
Flexibility
Capchase
Highly Flexible: No traditional financial covenants on amounts financed
Uncapped
Highly Flexible
Structure & Fees
Capchase
Transparent & Simple: No prepayment fees, closing fees, warrants, or hidden fees
Uncapped
Transparent & Simple: No prepayment fees, closing fees, warrants, or hidden fees
Value Add
Capchase
A prescriptive funding plan
Uncapped
A prescriptive funding plan
