← State of Embedded Finance 2026

Capchase

Can Capchase own the embedded financing layer for B2B SaaS transactions — replacing discounting and enabling flexible buyer payments while vendors receive TCV upfront?

Founded2020
HQNew York, NY, USA
FoundersPrzemek Gotfryd, Luis Basagoiti, Miguel Fernandez, Guli Yilmaz
Total raised$1.1B
Latest roundSeries B, 2022
IndustryFintech / Lending
The story

Founded in 2020 as a revenue-based financing platform for SaaS companies (Capchase Grow), the company initially focused on letting startups monetize future ARR to avoid dilution. By 2022, it extended into financial analytics and multi-country lending. In 2023, the company pivoted toward embedded B2B payments with Capchase Pay — a vendor financing / B2B BNPL product that positions it as a checkout-layer financing solution for software and hardware purchases, competing with Affirm-style BNPL but targeting enterprise SaaS deal flows.

Last 12 months
Product timeline
2020
Founded and launched Capchase Grow, a non-dilutive revenue-based financing solution for fast-growing SaaS startups.· lending
2021
Raised $125M Series A led by QED Investors and $280M extension led by i80 Group; expanded to US, UK, and Spain.· lending
2022
Raised $80M Series B; extended financing to include lending and financial analytics; expanded to Canada, Finland, Sweden, Belgium, and Netherlands; integrated with Xero for UK small businesses.· lending
2023
Launched Capchase Pay, a B2B BNPL / vendor financing product allowing SaaS companies to offer flexible payment terms while receiving TCV upfront.· lending
The stack
Payments / PSP
Stripe (integration partner)
Ledger
Modern Treasury
Lending
Capchase Grow (revenue-based financing / revolving credit line)Capchase Pay (B2B BNPL / vendor financing)Working capital advancesMulti-year deal upfront payment
FX & payouts
Kantox
Accounting
XeroHubSpotSalesforceStripe
Accounting gap: minor