Banco Santander S A : Mouro Capital leads $26m financing round in Uncapped, which provides non-dilutive funding to European entrepreneurs

Uncapped is the first announced investment by Mouro Capital after its recent relaunch as an autonomous venture capital fund spun out of Banco Santander

Uncapped eyes rapid European expansion with Spain as a core target market 

London, 23 September 2020 | Mouro Capital, the $400 million successor fund of fintech-specialist Santander InnoVentures, has led a $26 million financing round including debt and equity in Uncapped, a company changing the way growing online brands fund marketing and inventory. Spain-based venture capital fund All Iron Ventures and existing investors Global Founders Capital, Seedcamp, and White Star Capital also participated. They were joined by notable European angel investors/founders, Taavet Hinrikus (Transferwise) and Carlos González-Cadenas (GoCardless), among others.

Uncapped's technology provides founders with growth finance for a flat fee of 6% in a day. Businesses only repay the capital as they make revenue with no set repayment date and no compounding interest, equity or personal guarantees. Uncapped is available to businesses that take online payments, have at least €10,000 of monthly sales and a trading record of at least six months. It is a solution that has broad appeal, but ideal for companies in sectors such as ecommerce, software as a service (SaaS), direct-to-consumer (DTC), gaming and app development.

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