Levenue lands €8m Series A funding from Truffle Capital, acquires Cake
Dutch revenue-based financing marketplace Levenue has raised €8 million in Series A funding and acquired Belgium-based tech start-up Cake as it looks to scale its operations across Europe.
Levenue co-founders Benjamin Rieder and Zahra Alubudi
The funding round was led by French VC firm Truffle Capital, which also led Cake’s €4.6 million seed funding round back in January 2022. Belgian investment firm Freshmen Fund also participated in the Series A raise.
Levenue provides a marketplace for subscription-based businesses to connect with investors and access financing. Companies on the platform can sell the forecasted cash flow of their existing subscriptions to institutional investors as collateral for non-dilutive revenue-based financing.
The company currently has a presence in 12 European countries and claims to have facilitated €300 million in total financing since its launch in 2021.
Levenue says the fresh capital will be used to strengthen its product development and fuel its European expansion, with the firm set to launch in France early next year.
In preparation for this expansion, the company has also acquired fintech start-up Cake, which provides open banking and data enrichment solutions to enable companies to extract actionable insights from financial transaction data.
Levenue hopes Cake’s tech will “boost the efficiency and accuracy of underwriting” and enable the company to provide “more accurate risk profiles and offer faster financing decisions” through its marketplace.
Cake’s CEO, Davy Kestens, says both companies share the same mission of “bringing transparent data solutions to the world” and will work together to challenge “the way companies get financed, analysed and valued”.
