Capchase is a New York lender and software company, founded in 2020, that provides vendor financing: it pays B2B software and hardware sellers the full contract value upfront while their business buyers pay it back in installments. It started out advancing SaaS companies a share of their future recurring revenue through a product called Capchase Grow, but Crunchbase News reported in May 2026 that Capchase has entirely discontinued its revenue-based financing.
So the verdict depends on who you are. If you sell software or hardware to companies that want to pay over time, Capchase is a working option to review. If you are a founder looking for capital against your own recurring revenue, Capchase no longer offers it, according to Crunchbase News, so look at the alternatives below.
Key Takeaways
- Capchase’s homepage describes it, as of November 2026, as vendor financing for B2B software and hardware purchases, with Capchase as “both the lender and the deal financing software.”
- Crunchbase News reported on May 27, 2026 that Capchase “has entirely discontinued its revenue-based financing”; The Next Web called its pivot from startup financing to enterprise vendor lending complete the same day.
- Capchase raised $200 million in May 2026, made up of $26 million in equity and a $174 million credit facility, with 01 Advisors leading, according to Crunchbase News.
- While Capchase Grow was live, Capchase’s own page (archived August 2025) offered up to 60% of future recurring revenue on terms of 3 to 24 months, not the 70% of ARR this page once stated.
- Capchase published no rate card on the pages we reviewed in November 2026; its homepage says the buyer, the vendor or both can cover the interest.
What is Capchase?
Capchase was founded in 2020 and is based in New York, with offices in San Francisco and Madrid, according to its About page (read November 13, 2026). Crunchbase News and The Next Web also date its founding to 2020 and place it in New York. The About page names four co-founders: Miguel Fernandez, Luis Basagoiti, Guli Moreno and Przemek Gotfryd. Miguel Fernandez is the chief executive, as the company’s May 2026 announcement and Crunchbase News both state.
It is not a bank. Capchase calls itself a lender that also builds the financing software: it approves the buyer, funds the deal and runs collections, and its May 2026 funding round mixed debt warehouse facilities and equity (Capchase, May 27, 2026). Its website footer lists the legal entity as Capchase Inc., NMLS ID 2326852.
The company has changed what it sells. Its milestones, as Capchase lists them and as the press reported them:
| When | What happened | Source |
|---|---|---|
| 2020 | Founded in New York; started out providing revenue-based financing to SaaS companies | Crunchbase News; The Next Web |
| 2022 | $80 million Series B led by 01 Advisors | Capchase About; Crunchbase News, March 2022; The Next Web |
| Late 2022 | Began moving toward vendor financing | Crunchbase News |
| 2023 | Launched Capchase Pay, its B2B buy now, pay later product | Capchase About |
| June 2025 | Acquired Vartana, a vendor financing platform | Capchase, June 24, 2025; The Next Web |
| May 2026 | Raised $200 million+ ($26 million equity, $174 million credit facility); revenue-based financing discontinued | Crunchbase News; Capchase |
| November 2026 | capchase.com/grow redirects to the vendor financing homepage | Checked by Founderpath, November 13, 2026 |
How does Capchase work today?
Capchase’s homepage (read November 13, 2026) describes three steps. The vendor gets a credit decision on the buyer from its legal name and address, with no financial disclosures from the buyer and no impact on the buyer’s credit. The vendor then builds a proposal on terms its finance team has already approved, so the buyer can choose monthly, quarterly or deferred payments. Finally the buyer signs and sets up payments from one branded link, the vendor gets paid upfront, and Capchase takes on the credit risk and collections.
Crunchbase News gave an example: instead of paying $1 million upfront, a buyer pays $15,000 a month for up to five years, and Capchase pays the vendor the full amount upfront, net of a financing fee. Capchase’s own June 2025 post says buyers can pay in up to 60 installments. Capchase states that 97% of applications are decisioned in under 30 seconds; that figure is the company’s own, repeated by the press rather than independently measured.
The reason vendors want this is that buyers ask to pay over time, and every installment you accept yourself delays your cash. ZoomInfo’s founder described meeting that request around the company’s IPO:
We IPO’d in the middle of the pandemic, and one of the things that happened to us was customers wanted more flexible payment terms. And so instead of … selling annual upfront subscriptions, we started selling like monthly or quarterly. Well, that has a big billings issue, right?
Henry Schuck, founder and CEO of ZoomInfo, The Capital Efficient Founder, 28:01
Vendor financing lets a seller offer that flexibility and still collect the contract value on day one. The cost is the financing fee, which someone has to carry.
Does Capchase still offer revenue-based financing?
No, according to two independent reports. Crunchbase News wrote on May 27, 2026 that Capchase “has entirely discontinued its revenue-based financing” and now focuses on B2B buy now, pay later tools. The Next Web wrote the same day that “the pivot from startup financing to enterprise vendor lending is now complete.” Miguel Fernandez told Crunchbase News that the vendor product’s demand “ended up eclipsing the other product lines, and we decided to focus everything there.”
Capchase’s own site mostly matches that. As of November 13, 2026, the old capchase.com/grow address redirects to the vendor financing homepage. One older page, capchase.com/founders, still describes a non-dilutive product with an offer in as little as 48 hours, so treat it as a leftover and ask Capchase directly before you plan around it.
For the record, here is what Capchase Grow offered while it was live. Capchase’s Grow page, in a Wayback Machine copy from August 5, 2025, offered access to “up to 60% of your future recurring revenue”, repayment terms of 3 to 24 months with interest-only options, an offer “in as little as 48 hours”, and said there were no hidden fees, warrants, covenants or security interest. The same 60% appears in copies from May 2024 and July 2022. These are Capchase’s own past statements, not offers anyone can apply for today.
How much does Capchase cost?
Capchase does not publish a rate card on the pages we reviewed on November 13, 2026: its homepage, About page and Capchase Pay page give no fee or interest figures. What it does state is who pays:
- Buyer-covered interest. The buyer repays the financed amount plus interest, and the vendor receives the full contract value upfront.
- Vendor-subsidized interest. The vendor takes a discounted payout, so the buyer gets a lower monthly payment.
- Split interest. Vendor and buyer share the cost.
Those three options come from Capchase’s homepage. The Capchase Pay page adds that there are “no minimums and no upfront costs” to sign up. To compare a Capchase quote with any other financing, ask for the total fee in dollars and the payment schedule, then work out the annual cost as the next section shows.
How to compare a financing offer
A flat fee looks the same on a term sheet whatever the term, but its yearly cost changes with how fast you repay. Take a $100,000 advance with a $10,000 fee, repaid in equal monthly payments. By our calculation (the rate that discounts the payments back to $100,000, times 12):
- over 24 months, $4,583.33 a month, an APR of about 9.3%;
- over 12 months, $9,166.67 a month, an APR of about 18.0%;
- over 6 months, $18,333.33 a month, an APR of about 33.5%.
So halving the term roughly doubles the yearly cost of the same fee, and it also raises the monthly payment your cash flow has to carry. Before you sign anything, model it yourself, as Ben Carpel advised in one of our talks:
Before you press the button, I would always recommend … it doesn’t need to be a complicated analysis, but quickly do a model in Excel to understand, okay, if I’m borrowing one hundred thousand dollars today, … what is that really going to cost me? How many thousands of dollars over the next 12 months or two years or three years?
Ben Carpel, owner and director of Galleon, Founder Net Worth Map, 10:07
Who is Capchase a good fit for?
Capchase fits a software or hardware vendor that sells larger contracts to business buyers who want to spread payments. Capchase’s CEO told Crunchbase News that the average buyer using Capchase has roughly $80 million in annual revenue, has operated for more than 20 years and is profitable, and Crunchbase News lists its customers as including Barracuda, Verkada, Okta and Datarails; The Next Web and FinTech Global list the same names. It is not built to fund a founder’s own runway, hiring or marketing.
Crunchbase News lists its markets as the US and Canada plus Europe (the UK, Ireland, Belgium, the Netherlands, the Nordics and Spain), with Australia being added in 2026; Capchase’s About page says it serves 9+ countries.
Capchase alternatives for SaaS founders
If you came to Capchase for capital for your own company, these lenders still offer non-dilutive financing: Efficient Capital Labs and Founderpath advance against recurring revenue, while Hum Capital and Liquidity make larger debt facilities. Each lender row comes from our own reviews, where every fact was checked against two sources or attributed to the lender with a date; the Founderpath row comes from its product pages.
| Lender | What it offers | Size and stage it states | Source |
|---|---|---|---|
| Efficient Capital Labs | Advances against recurring revenue, repaid in monthly installments; the closest to what Capchase Grow was | $100K to $5M for companies with $500K+ ARR, often up to 60% of ARR | ECL’s site, October 2026 |
| Hum Capital | Direct loans through Hum Financial, plus a marketplace of outside lenders | $1M to $50M for US businesses with $2M+ annual revenue | Hum’s site, October 2026 |
| Liquidity | Private credit: term loans and revolving facilities | $10M to $200M per company, growth stage and mid-market | Liquidity’s site, October 2026 |
| Founderpath | Revenue financing against receivables; term loans for larger companies | Revenue financing for $1M to $3M ARR, up to $1.5M per round; term loans $500K to $10M for $3M+ revenue | Founderpath’s product pages, November 2026 |
An earlier version of this page also listed Stenn as an alternative. Stenn’s UK companies went into administration on December 4, 2024 and it no longer lends; what happened to Stenn covers the details. For the full range of options beyond these lenders, see our guide to non-dilutive funding for SaaS companies.
Capchase vs Founderpath
The two now do different jobs. Capchase finances your buyer’s purchase; Founderpath finances your own company against its recurring revenue. Here is how they line up on what each company publishes:
| Capchase | Founderpath | |
|---|---|---|
| What is financed | A buyer’s purchase of software or hardware | The software company’s own current and future receivables, or a term loan |
| Who gets the cash | The vendor, upfront | The founder’s company |
| Who repays | The buyer, in installments | The company, in monthly payments (fixed for revenue financing; term loans can start with up to 24 months of interest only) |
| Capital for your own runway | Not offered: revenue-based financing discontinued (Crunchbase News, May 2026) | Revenue financing for $1M to $3M ARR, up to $1.5M per round; term loans of $500K to $10M for $3M+ revenue |
| Published cost | No rate card found; interest paid by the buyer, the vendor or both | Discount rate from 7% (revenue financing); interest from 15% (term loans) |
| Equity and guarantees | Not stated on the pages reviewed | No equity or warrants; no full personal guarantee; a lien on business assets only |
An earlier version of this page said Founderpath charges a 7% to 12% discount rate, lends at 14% interest and funds up to 4x MRR. Founderpath’s product pages say the discount rate starts at 7% and term loan interest starts at 15%, so those lines are corrected. For a longer side-by-side, see Founderpath vs Capchase, and for how revenue-based financing works in general, the revenue-based financing guide.
Funding growth without giving up equity
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Capchase FAQ
What is Capchase?
Capchase is a New York lender and software company, founded in 2020, that provides vendor financing. It pays B2B software and hardware sellers the full contract value upfront while their business buyers repay it in installments, and it takes on the credit risk and collections.
Does Capchase still offer revenue-based financing?
Not according to the latest reports. Crunchbase News reported on May 27, 2026 that Capchase has entirely discontinued its revenue-based financing, and The Next Web called its pivot to enterprise vendor lending complete. Its old Capchase Grow page now redirects to the vendor financing homepage, although an older capchase.com/founders page still describes a non-dilutive product, so confirm with Capchase before you plan around it.
What did Capchase Grow offer?
Capchase Grow advanced SaaS companies part of their future recurring revenue. An August 2025 archived copy of Capchase’s Grow page offered up to 60% of future recurring revenue, repayment terms of 3 to 24 months and an offer in as little as 48 hours.
How much does Capchase cost?
Capchase does not publish a rate card. Its homepage says the interest can be covered by the buyer, absorbed by the vendor through a discounted payout, or split between them, and its Capchase Pay page says there are no minimums and no upfront costs to sign up.
Is Capchase a bank?
No. Capchase is a privately held lender and software company. Its May 2026 funding round mixed debt warehouse facilities and equity, and its website footer lists Capchase Inc. with NMLS ID 2326852.
Is Capchase legit?
Capchase is an established company: it was founded in 2020, raised more than $200 million in debt and equity in May 2026 with 01 Advisors leading, and names customers such as Barracuda, Okta and Datarails. Whether its terms suit you depends on the quote, so compare the total fee and schedule.
Who is the CEO of Capchase?
Miguel Fernandez, one of its four co-founders, is Capchase’s chief executive, according to Capchase’s May 2026 announcement and Crunchbase News.
What are the best Capchase alternatives for SaaS founders?
For capital against your own recurring revenue, look at non-dilutive lenders such as Efficient Capital Labs ($100K to $5M for $500K+ ARR), Founderpath (revenue financing for $1M to $3M ARR), Hum Capital ($1M to $50M for $2M+ revenue) and Liquidity ($10M to $200M), each as stated on its own site.
Sources and method
We checked every fact on this page on November 13, 2026. Facts about Capchase come from two independent sources where they exist (Capchase’s own pages count as one, and outlets repeating its press release count as copies); where only Capchase states something, the page says so and dates it. We did not publish a star rating: G2 and Trustpilot blocked automated reads on the day we checked. Founderpath’s terms are quoted from its own product pages and dated. The APR figures are our own calculation from the stated payments. An earlier version of this page said Capchase offered up to 70% of ARR on 3 to 12 month terms with a $1M ARR minimum, cited figures such as $2.5 billion deployed to 4,000 companies and 24/7 support, listed Stenn as a live alternative and misstated Founderpath’s terms; those claims are removed or corrected.
- Capchase homepage, About page, Capchase Pay page and founders page, read November 13, 2026
- Capchase Secures $200M+, as Demand for Vendor Financing in Enterprise Tech Deals Accelerates, Capchase, May 27, 2026
- We’re Redefining Vendor Financing: Here’s Why We Acquired Vartana, Capchase, June 24, 2025
- Capchase Grow page as archived by the Wayback Machine on July 4, 2022, May 30, 2024 and August 5, 2025
- Exclusive: Capchase Raises $80M Series B To Give Startups Alternatives To Venture, Chris Metinko, Crunchbase News, March 10, 2022
- Exclusive: Capchase, The ‘Affirm for B2B,’ Secures $200M In Debt And Equity, Mary Ann Azevedo, Crunchbase News, May 27, 2026
- Capchase raises $200 million to replace the banks slowing down enterprise tech deals, Cristian Dina, The Next Web, May 27, 2026
- Capchase raises $200m+ to scale vendor financing, FinTech Global, May 28, 2026
- Founderpath revenue financing and term loans pages, read November 13, 2026
- Our dated reviews of Efficient Capital Labs, Hum Capital, Liquidity and Stenn
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