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Corl raises $20 Million USD to expand Revenue-Based Financing in North America
FoundersPress | Eric Rafat | Mar 14, 2022
In many scenarios, VCs are often looking for ‘home runs’ and won’t always see the potential of every company – plus the cost of equity can be expensive, not just in terms of dollars but also company dilution. This is where ‘Capital-as-a-Service (CaaS)’ comes in. In exchange for a percentage of monthly revenue, companies can get the funds they need to grow their business. CaaS companies, like Corl, have a clear understanding of needs for capital injection, whether it’s increasing inventory, expanding marketing efforts, or growing headcount, businesses need upfront investment to set themselves up for success.
See: On-chain capital is the future of startup funding
Corl believes that companies should have access to growth capital that is fair, fast, and flexible. They use a proprietary AI software to analyze their financials to give businesses an initial assessment –it takes just 10 minutes to complete and less than 24 hours to find out if they qualify for financing. With preferential rates and flexible repayment plans, CaaS companies are making growth capital a more attractive option for businesses that operate in the digital economy.
This type of growth capital is well-suited to Software-as-a-Service, e-commerce, and other technology companies that need quick non-dilutive capital to grow, such as tech-enabled HR consulting firm Bridger. After taking capital for Corl, they increased their customer base by 170% and revenue by 136%.
Just a couple years in and with over $35 million in capital deployed, Corl is continuing to grow. They just announced a raise of $20 million USD from NAOS Finance –a major and well-established DeFi investment company that has worked with top technology companies from across the globe. This capital will be used to finance more businesses seeking revenue-based financing in North America.
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