Uncapped announced securing an additional $80 million in a round led by lakestar.

Uncapped, a London, UK-based financial service startup providing loans to the B2B market, announced a financing round worth of $80 million.

The money was raised from backers led by Lakestar and joined by existing investors including Santander’s Mouro Capital, Global Founders Capital and White Star Capital.

Proceeds will be used to hiring more people as the company sees its business on a growing trajectory.

Uncapped, founded in 2019 by CEO Asher Ismail and Piotr Pisarz, set uf a loan shop providing finance for startups based on their current (and projected) revenue. The company lends working capital to online businesses with at least six months of trading activity and revenues of at least £10,000/month, and extends capital of anywhere between £10,000 and £5m. Repayments are based on revenue and the cash comes with a flat fee which doesn’t compound.

Prior to this round, Unpcapped secured £10M in 2019 and $26 million in a debt&equity funding round led by Mouro Capital in 2020.