Levenue Raises €8 Million in Series A, Acquires Cake

Published 5 months ago

Revenue-based investing platform, Levenue, has secured €8 million in a Series A funding round. The startup has also announced the acquisition of Cake, a specialist in bank transaction enrichment.

Truffle Capital Fuels Levenue’s Growth

Truffle Capital led the investment round in Levenue, a platform that allows subscription-based businesses to leverage the forecasted cash flow of their existing subscriptions for non-dilutive financing from institutional investors. Operating across 12 European countries, the platform has seen investors provide more than €300 million in total financing since it commenced operations in 2021.

The newly raised funds will be deployed towards scaling growth. A launch in France is anticipated in the early part of the next year.

Acquisition of Cake to Enhance Underwriting Process

In a strategic move to boost its underwriting process, Levenue has acquired Cake, a developer of open banking and data enrichment technology. The acquisition is expected to aid in the creation of more accurate risk profiles and facilitate faster financing decisions.

CEO of Levenue, Benjamin Rieder, stated that the acquisition of Cake is in line with the company’s ongoing commitment to enhancing its offerings and improving transparency for its users.