The German-based digital funding marketplace for SaaS companies, Tapline, which is co-founded by the Bulgaria-born Peter Grouev, raises a €31.7M pre-seed debt and equity round.
The investment combines €30M debt financing from the UK alternative asset management company, Fasanara Capital, and €1.7M equity financing from the Czech V-Sharp Venture Studio. The equity round is also joined by Antler, Impetus Capital, Black Pearls VC, 365 fintech, Depo Ventures, and several business angels.
Tapline will use the funding to increase sales and marketing efforts and accelerate product development by hiring people for key product positions.
“Tapline addresses a significant pain point for growing enterprises. The company provides financing in the critical period between funding rounds. This allows businesses to maintain and even accelerate growth until they receive the next financing round, simply against their recurring revenues. In this, Tapline’s strategy aligns with IMPETUS’ vision – we need to reduce friction in companies wherever possible. The lack of sufficient financing of growing start-ups is the top reason for their failures. Tapline’s product gives access to liquidity for growing companies in CEE and benefits IMPETUS’ equity portfolio companies in particular,” Viktor Manev, Partner at IMPETUS Capital, comments for The Recursive.