Uncapped is a fintech startup that has recently made the news with its unique approach for providing funding sources for entrepreneurs. The company is a potential disruptor in the financial industry that offers funding options for new business owners attempting to fund new startups. The business could be a game-changer as the landscape of the business world is constantly changing. It has the potential for fueling the growth of new and exciting companies that will further advance the recovery of the local and global economies. Here are 20 things you probably didn't know about Uncapped, to help you become more familiar with this valuable resource.
1. Uncapped is a financial company
According to Crunchbase, Uncapped provides financing for the founders of new companies. It offers a unique approach to funding that relies on revenue-based financing that allows business owners to raise growth capital without equity or interest.
2. Uncapped is a versatile finance company that is listed among four industries
Uncapped is listed under four major industry classifications. It is a listed under financial services because of the assistance that it provides clients. It is also a finance company that helps clients secure funding. It is also listed under Payments and FinTech industries.
3. Uncapped is still in its infancy
Although the new startup has achieved remarkable success early, it is still considered to be an infant company in its development. It is only one year old as of May of 2021. The business was founded in September of 2019 under the legal name Uncapped Ltd. It is actively operating and fully functional. Uncapped has hit the ground running so to speak with its offices open for business, providing clients with financial products and services.
4. Uncapped offers clients fair and flexible financing
Uncapped offers a refreshing financing option for its clients. The company provides a transparent type of financing that eliminates the disappointment and surprises of hidden charges. The funding options include business advances that range between 10,000 BP up to 2 million. There are no hidden charges and the interest rate is at zero percent. The flat fee of six percent is how Uncapped makes its revenue. This is the fee charged on the capital that it provides founders. Repayment of the advance is made through a revenue-sharing agreement. Funding is based on current and projected revenues, sales, accounting, and marketing data gathered about the company seeking funding advances.
5. Uncapped is a London, England-based company
Uncapped was founded by Asher Ismail and Piotr Pisarz in 2019. They set up the headquarters for the fintech business in London, England. This is the first entrepreneurial venture for both of the founders, however, they have been successful in attracting the necessary financial support to launch the business and make it operational. They are dynamic leaders who have established a solid foundation for their new company. It is a solid financial institution that offers alternatives for new businesses for accessing revenue funding in advance, then paying back the advance over time.
6. Uncapped is led by a small executive team
The executive team of Uncapped is comprised of four members. Piotr Pisarz is a co-founder of the company and the chief executive officer. He is joined by co-founder Asher Ismail. Jamie Whitcroft is the head of strategic partnerships and general counsel. Brian Evje serves Uncapped in the position of head of people. Although the executive team for Uncapped is small, they are a dynamic group that has led the business forward during its formative stages to achieve a period of rapid advancement.
7. Uncapped has only one board member
Although Uncapped has only been in operation for just under two years, it has established an advisory board. So far, there is only one board member who provides advising the group, but it is expected that the company will add more as it grows and matures. The sole advisor of the Uncapped board is Chris Priebe. He joined the board in 2020, just one year after the company was first launched. Mr. Priebe is an investor who has four portfolio companies to his credit and one exit in his history as an advisor.
8. Uncapped is a fintech company that uses an array of complex technologies
Uncapped is categorized as a fintech company because of the complicated technologies that are used to power its website. There is a total of 41 different technologies actively in use, including iPhone mobile Compatible, LetsEncrypt, SSL by Default, and dozens of others. We also learned that Uncapped has obtained one registered trademark for the development of a unique technology product that is listed in the insurance financial affairs class. This trademarked property means that none of its competitors can imitate the design. It gives Uncapped an edge in the business world that distinguishes its services from the others.
9. Uncapped is backed by venture capital funding
So far, Uncapped has participated in four rounds of venture capital funding. The company has raised a total of $118.9 million. The most recent round concluded on May 20, 2021, in an Unknown Series round. All Iron Ventures and Mouro Capital were the most recent investors to join the fundraising efforts for Uncapped.
10. Investor confidence is high in Uncapped
Uncapped has secured the confidence of a total of 12 investors with 3 lead investors. Mouro Capital, All Iron Ventures, Lakestar, Global Founders Capital, Seedcamp, White Star Capital, and David Rosskamp are among the investors that put their faith in the new startup. The fact that Uncapped has 12 investors onboard, committing millions to its growth and expansion confirms that the confidence of these high-powered firms is high in Uncapped's potential for generating a healthy return from the funds that have been invested in the business during its developmental stages.
11. Uncapped is seeing growth in monthly visits from the United Kingdom
The Uncapped website is generating a lot of interest from visitors throughout the world. AS of the end of April 2021, statistics show that the average number of monthly visits to the Uncapped website is around 16,208. Eighty-seven percent of the web traffic is from people who live in the United Kingdom, with a 1.17 percent growth rate for this country. this is followed by seven percent of the visits from people in the United States, four percent from visitors in Sweden, and three percent of web traffic originating in Germany. Uncapped has been getting attention from entrepreneurs around the globe, who are looking for fair and flexible financial solutions to grow their new companies. This is fairly remarkable progress because the company has not even been in operation for a full two years yet.
12. Uncapped is adding more services
According to Techcrunch, Uncapped has plans to use funds from its recent venture capital round to add yet more products and services to its current offerings. In 2020, it added the issuance of Visa Cards, and for this year, one of the goals that the startup has is to make a larger move into the banking arena.
13. Uncapped is an easier alternative
We were impressed with the simplicity of Uncapped, and the fact that they don't require business plans or credit checks to apply for and be approved for funding. This company makes it easy to acquire the funding needed for bolstering new companies. New entrepreneurs do not need to have established a stellar credit history to qualify, which is a difference that immediately sets Uncapped apart from other financial institutions.
14. Business repay is Uncapped's revenue model
Uncapped is set to bring in healthy revenues with a six percent fee, but there is no set repayment schedule. What makes the deal even more advantageous for entrepreneurs is that there is no equity, no need for personal guarantees, and no compounding interest. Uncapped provides options that are superior to traditional lenders in many different respects. It opens up funding to a larger segment of the population of new business owners.
15. Uncapped has an eye on digital companies
Co-founder of Uncapped, Piotr Pisarz is aware of the fact that digital companies are sprouting up everywhere and they're making quick progress. The biggest problem for them is that traditional funding sources have not kept pace with the needs of these new modern businesses. Legacy banking providers are not keeping up with the demand or the resources for digital entrepreneurs. This is where Uncapped comes in. One of their goals is to provide digital entrepreneurs with fast funding access along with insights to help them grow their business and modern integrations that save on effort, time, and ultimately, money.
16. Uncapped found a problem and offers a solution
One of the factors that make Uncapped so successful so fast, is that the founders identified a big problem in the current financial industry. Legacy banks use dated infrastructures with established standards that do not meet the needs of digital entrepreneurs, nor do they even understand what those needs are. It's like they're behind the times but are doing little to nothing to change the situation. Uncapped's founders saw this problem and built a solution that would resolve the issue for new digital entrepreneurs. This is how Uncapped came into existence. It's geared towards meeting the real needs of digital entrepreneurs and helping the estimated 82 percent of these business owners who are not happy with the banking services they receive through traditional providers. The alternative funding resource is tailored to meet the needs of digital entrepreneurs.
17. Uncapped still has a small workforce
According to LinkedIn, Uncapped is still working with a fairly small workforce. The site shows that there are currently forty employees working at the firm. Uncapped has listed six new position openings, however. Although it's not a huge expansion, there are jobs open in Poland, and the United Kingdom. The majority of these positions offer workers the opportunity to work remotely, without the need to set up an office. Many will be able to perform their duties from a home office setting.
18. Uncapped is a potential disruptor in the financial industry
According to the Uncapped official website, Uncapped provides a type of funding that is not offered by traditional lenders. The ease of acquiring the funding needed to grow companies faster and more easily is almost unprecedented. As Uncapped continues to grow and expand it will reach a larger segment of the world with the funding needed to grow its businesses. It has the potential to disrupt traditional forms of financing because it takes the hassle out of funding new startups. Another benefit is that it cuts out many of the middlemen that make huge profits off of new startups. A six percent flat fee is more than reasonable and the flexible repayment terms are more than fair.
19. Uncapped may take business away from traditional banks
We see the potential for Uncapped's model to become the preferred method for funding new businesses. While traditional lending institutions continue to offer strict guidelines for qualification, extensive background checks, and a lot of red tape that slows down the lending process, Uncapped offers a hassle-free and faster way to get needed funds. If this new approach continues to gain traction in the mainstream, it could signal the end of traditional fundraising processes, but only time will tell.
20. Uncapped is privately held
As of now, Uncapped is still a privately owned company. The startup has secured funding to grow and expand its operation through venture capital fundraising rounds and it's doing quite well. So far, there has been no indication or announcements of any plans to file for an IPO and take Uncapped to the public arena. This means that investors will not be able to buy and sell shares of the company on the public stock exchanges. As long as investors maintain their current level of interest and confidence in Uncapped it will likely remain a privately held for-profit enterprise.
Written by Allen Lee
Read more posts by Allen Lee