Uncapped

Cash is oxygen, and most founders run on fumes.

Fintech of the week. Uncapped

Anyone who has lived through a cash gap knows the feeling. Payroll is coming. The inventory needs to be paid for. Ads are working, but the money lands later. The business is fine on paper, and still suffocates in real life.

That is the lane Uncapped chose in 2019. Not “wait three months and pitch investors”. Just fast, non-dilutive capital for online businesses that need inventory, marketing, or runway now.

Uncapped was started in London by Asher Ismail (early Skype team, former Midrive CEO) and Piotr Pisarz (ex VC at DN Capital). The promise was simple and founder-friendly: no personal guarantees and no giving up equity.

The early product was revenue-based finance with a flat fee, often quoted at around 6%. Underwriting leaned on payment and business data instead of the old-school checklist. If you are a digital business with a predictable cash flow, that approach can feel like someone finally speaks your language.

What I respect is the grown-up pivot they did out loud. Uncapped publicly moved away from RBF for most customers and now focuses mainly on fixed-term loans, keeping RBF for the edge cases where it genuinely fits. That is not a sexy story, but it is usually the honest one in lending.

The traction signals are real. £10M seed in 2019. A $26M round in 2020 led by Mouro Capital. An acquisition of Sugar in 2022, a lender focused on gaming and apps. And a £200M debt facility from Fortress in 2023 to fund more loans at scale.

Uncapped says it has funded 1,000+ founders, offering roughly $10K to $10M, across the US, UK, Germany, Spain, and Poland. That map tells you where demand is hottest: digital-first companies with expensive growth loops and a constant need to smooth cash flow.

Zooming out, this is one of the clearest shifts in fintech right now. Founders are not only choosing between bootstrapping and raising venture capital. They are building capital stacks. And lenders who understand internet economics will keep eating market share.

FinBox Solutions highlights one fintech every day. At the end of the week, the startup with the most votes becomes Fintech of the week and appears on my profile.

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If you were running a $2M ARR SaaS or a scaled Shopify brand, would you choose a fixed-term loan, or an RBF-style revenue share when growth is volatile?

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