Uncapped - Providing Fast, Non-Dilutive Capital for Online Businesses
Uncapped provides fast, non-dilutive capital for online businesses needing immediate funding for inventory or marketing. Founded in 2019, it offers loans without equity loss, supporting digital-first companies with predictable cash flows.
Cash is oxygen, and most founders run on fumes.
Uncapped sells fast, non-dilutive capital for online businesses that need inventory, marketing, or runway now, not after a 3-month VC process.
It started in London in 2019, built by Asher Ismail (ex Skype early team, former Midrive CEO) and Piotr Pisarz (ex VC at DN Capital), with a simple promise: funding without personal guarantees and without giving up equity.
The early product was revenue-based finance with a flat fee (often cited at 6%) and advances that used payment and business data instead of old-school underwriting.
But Uncapped also did the grown-up pivot most lenders avoid saying out loud: it publicly moved away from RBF and now focuses on fixed-term loans for most customers, keeping RBF mainly for edge cases where it fits.
They have scale signals, not just vibes: a £10M seed in 2019, a $26M round in 2020 led by Mouro Capital, and a £200M debt facility from Fortress in 2023 to fund more loans, plus an acquisition of gaming and app-focused lender Sugar in 2022.
Uncapped says it has funded 1,000+ founders and offers financing from about $10K up to $10M across the US, UK, Germany, Spain, and Poland, which tells you where demand is hottest: digital-first businesses with predictable cash flows and expensive growth loops.
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If you were building a $2M ARR SaaS or a scaled Shopify brand, would you pick a fixed-term loan, or take an RBF-style revenue share when growth is volatile?
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