NEW YORK--(BUSINESS WIRE)--Braavo Capital, an integrated financing platform for mobile app businesses, today announced that it has closed on a combined debt and equity financing of over $70 million dollars. The financing was led by Mark 2 Capital, increasing its existing commitment over 10x, and included participation from leading angel investors and family offices from across the fintech and mobile ecosystem.
The money will be used to scale the Company’s financing originations and support the rapid growth of its customer base.
“We are thrilled to be partnering with Mark 2 Capital to continue growing our business, and in turn, providing mobile founders across the country with the capital and insights they need to scale their own businesses,” said Mark Loranger, Co-founder of Braavo Capital. “The investment community has been tremendously supportive of Braavo’s unique value proposition of fueling mobile app growth by providing working capital and growth capital solutions to companies at all stages of revenue traction. It helps that the mobile ecosystem is stronger than ever, growing around 30% annually with publishers expecting to earn over $200 billion by 2020.”
How It Works
Braavo Capital provides performance-based funding and insights for mobile growth. Mobile app founders face a variety of funding challenges when trying to build their businesses - whether it’s the constraints of working capital related to long-term receivables cycles or the need invest large portions of their budget in marketing to drive scalable growth. In either case, Braavo Capital can help solve those constraints by using data to understand clients’ needs in real-time and deliver innovative and founder-friendly financing solutions. Funding is delivered in days and requires no extensive due diligence, personal credit checks or personal guarantees from the founders.
Braavo’s technology integrates with a mobile app business’s key data systems, including app store and analytics accounts - to examine metrics like user growth, revenue, marketing performance and engagement. Not only can this data be used to analyze risk and deliver financing, but it also enables Braavo to provide an extra layer of insight to its customers to help them spend more effectively and grow more sustainably.
Over the years, tech founders have been conditioned to believe that the only way to grow and become successful is to raise venture capital. “Venture capital financing is only right for a very small number of companies. It’s time consuming, and the cost is great. We believe mobile businesses are better served by our more nimble financing model,” stated Loranger.
About Braavo Capital
Braavo Capital is changing the way mobile entrepreneurs finance and grow their app businesses. Braavo uses data, integrations and automation to deliver performance-based funding that’s available on demand, eliminating the need for time-consuming fundraising and due diligence. Furthermore, Braavo’s financing products are entirely nondilutive, so entrepreneurs can hang on to their hard-earned equity ownership. Founded in 2015 by a team of serial entrepreneurs, the company is headquartered in New York. To learn more please visit www.getbraavo.com.