SAN ANTONIO, October 12 (Korea Bizwire) – Element Finance, a leading growth finance provider offering flexible and capital efficient venture finance and income-based financing solutions, announced the raising of its second fund, giving it access to over 40 millions of dollars. The investment comes from both new and original investors in the company’s initial $ 14.5 million fundraising effort.
Element Finance provides alternative growth finance to SaaS businesses with recurring revenue to help close the funding gap. The team prides itself on its partnership approach and flexible funding of up to $ 10 million without a seat on the board of directors, no personal guarantees or warrants.
Element Finance is led by seasoned SaaS operators and General Partners: Lew Moorman, former president of Rackspace; Ed Byrne, entrepreneur; and John Gallagher, CEO and partner. The leadership team has a proven track record of guiding founders, such as Athletic Greens, Mural and Chargify, through the challenges they face when they need flexible financing options to grow without dilution.
Element Finance plans to use the fund to help growing SaaS companies build strong capital by giving them access to income-based finance and term loans.
“The closing of this round of funding marks an important milestone for Element Finance,” said Gallagher. “These funds will allow us to provide financing solutions to higher quality companies that need a long-term capital partner and can benefit from debt financing instead of dilutive capital increases. Most of the current financing offers that we see do not match the needs of their customers. We believe in using the right kind of capital for the right use and are committed to providing SaaS founders with a simple alternative funding option to meet historical limits. ”
For more information, please visit www.elementfinance.com.
About Element Finance
Let’s face it. Not all debt is created equal. We believe that there is a different way to grow and that finances should be simple and tailored to the needs of a fast growing business. Founded in 2019, Element Finance is a leading provider of growth finance, offering flexible and capital efficient financing solutions. The team has a proven track record of guiding founders, such as Athletic Greens, Mural and Chargify, through the challenges they faced when they needed funding to grow without dilution.
Our Alternative Debt Financing at Risk offers a better way to build a capital stack, turning MRR into ARR to fill the SaaS funding gap through fixed rate and income-based finance loans and solutions. term loan by loan at risk. Our simple financing options are tailored to meet the needs of the business with no hidden terms and conditions, no board seats, no personal guarantees or equity. We believe in the relationships and the people behind the products. We take a personal, partnership-based approach to learning about your business and supporting your growth.
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Source: Element Finance via GLOBE NEWSWIRE