Capchase
A revenue-based lender advancing against recurring software revenue, funding £500k to £5m in one to three business days off billing and banking data.
What they do
Capchase lends to subscription businesses against annual recurring revenue, advancing up to around 70 per cent of it, with underwriting run automatically off billing systems, monthly revenue, churn and retention data. A term sheet arrives in days and funds within one to three business days of approval. Repayment terms are short, typically between three and twelve months. Funding comes from institutional warehouses, including a €105m facility led by Deutsche Bank, and the business operates in the UK from London alongside North America and continental Europe.
Where they fit in a lower-mid-market raise
Where a software business needs working capital quickly and does not want to raise equity or negotiate covenants, this is the fastest money in the market for the profile. It suits funding a specific push, a marketing programme or a hiring wave, where the payback is measurable inside a year.
Where they are not the fit
A predictable subscription revenue base is required, so an earnings-driven, asset-heavy or project-revenue business does not qualify. Repayment terms are short, which makes this working capital rather than a multi-year term facility for an acquisition. The company has been shifting emphasis towards business-to-business vendor financing, so whether the recurring-revenue product is still being originated is worth confirming.
Published terms
- Pricing
- Not published
- Speed to terms
- 1-3 business days to funds after approval; term sheet in days
- Sponsored or sponsorless
- Corporate/founder-direct growth capital to SaaS and subscription businesses; not a sponsor-leverage lender
- Where they lend
- UK-active from London HQ (Duo, Level 6, 280 Bishopsgate, EC2M 4RB); also USA, Canada, Ireland, Spain, Belgium, Netherlands, Finland, Sweden; Europe c.25% of book
- How they decide
- Automated or data-driven underwriting off billing-system, MRR, churn and retention data; term sheet in days, decision in under a day
- Search funds and ETA
- No published route for search-fund or first-time acquirer borrowers
As published by the lender and last reviewed August 2026. Terms quoted on a deal are set by the credit, not by a published band.
What rules a deal out
Stated limits, taken from Capchase’s own published criteria. A limit is where a lender starts from, not where it always ends: several of these move on a strong enough credit.
- Recurring-revenue (SaaS/subscription) business model required
- ARR-sized facility (up to c.70% of ARR), not EBITDA/leverage
- Short 3-12 month repayment terms, not a multi-year LMM term loan
- Product actively de-emphasised as of 2025-26 pivot to B2B vendor financing or BNPL
How they sit against the category
- Its published ceiling of £5m is among the 3 highest of the 5 platform lenders here.
- It starts higher than all but 0 of them, at £500k.
Counted across the 5 platform & marketplace lenders in this directory, on what each one publishes. What a lender discloses and what it will do are different things.
Questions this page answers
How large a facility does Capchase write?
Published facilities run £500k to £5m. A band is what a lender states it will do, not what it will do on a given credit.
How quickly does Capchase move?
1-3 business days to funds after approval; term sheet in days. Published timetables describe a clean case; anything unusual in the security or the structure adds to them.
Does Capchase lend to search funds or ETA buyers?
Not on the published evidence. Capchase publishes no route for search-fund or first-time acquirer borrowers. A searcher's route to a lender usually runs through the quality of the target and the equity behind it.
Does Capchase lend to companies without a private-equity sponsor?
Yes. Capchase lends to owner-managed and corporate borrowers, and publishes no private-equity sponsor proposition.
Where does Capchase lend?
UK-active from London HQ (Duo, Level 6, 280 Bishopsgate, EC2M 4RB); also USA, Canada, Ireland, Spain, Belgium, Netherlands, Finland, Sweden; Europe c.25% of book.
On the record
May 2026: raised $200m+ (debt + equity) to scale AI-driven vendor financing (businesswire.com, fintechfutures.com.
June 2025: acquired Vartana, a vendor-financing platform (founderpath.com.
Sources: swoopfunding.com · tech.eu
This profile is a curated reference note drawn from public sources, not financial advice or a recommendation. Appetite and terms change; a lender's fit for a given credit is established by approaching it, not inferred from a page.