← Embedded Finance Index 2026

Capchase

Also a provider — view Capchase’s profile →

“Can Capchase become the default direct-lending infrastructure for enterprise tech vendors by embedding B2B BNPL into their sales workflows, replacing bank-dominated vendor-financing programs?”

Founded2020
HQNew York, NY, USA
FoundersPrzemek Gotfryd, Miguel Fernandez
Total raised$400M+ (equity + debt)
Latest roundDebt + Equity round, 2024 ($200M+)
IndustryFintech / Lending
The story

Founded in 2020 as a revenue-based financing (RBF) platform for SaaS companies, Capchase enabled founders to access upfront capital against their future ARR without dilution. After raising a Series B in 2022, the company pivoted sharply — discontinuing RBF entirely by 2023 and repositioning as a B2B vendor-financing/BNPL platform (Capchase Pay) embedded directly into the sales workflows (Salesforce, HubSpot, Stripe checkout) of software and hardware vendors. The current model sees Capchase lending directly to buyers, paying vendors upfront, and competing in the $1.3 trillion vendor-financing market historically dominated by banks and OEM captive finance arms.

Last 12 months
2024-01
Product timeline
2020
Capchase launched as a revenue-based financing platform for SaaS companies, offering upfront capital against future recurring revenue.· lending
2021
Raised $125M Series A led by QED Investors; expanded to Europe and surpassed $2B in financing made available to nearly 3,000 companies.· lending
2022
Raised $80M Series B; began pivoting from revenue-based financing toward a B2B vendor-financing/BNPL platform.· pivot
2023
Fully discontinued revenue-based financing product (Capchase Grow); repositioned as a B2B BNPL and vendor-financing technology platform embedded into SaaS and hardware vendor sales workflows.· pivot
2024
Secured $200M+ in new debt and equity; expanded Capchase Pay to 9 countries (US, Canada, UK, Ireland, Spain, Belgium, Netherlands, Finland, Sweden) and integrated with Stripe, Salesforce, and HubSpot.· lending
The stack
6 layers disclosed in Capchase’s embedded-finance stack
Payments / PSP
Stripe Connect
Money movement
in the full report
Ledger
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
10 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.