Traditionally, SaaS founders must pitch to VCs or try to get money from banks in order to raise funds. This means that these founders must be able to find intros to VCs in their network and can face months of waiting for a financial decision. Vitt has set out to modernise fundraising and change how founders raise capital and manage their cashflow. The company wants to enable founders to grow and own their business by offering them upfront, non-dilutive financing against their own cashflows.
The company is building a platform that both simplifies fundraising for SaaS founders and creates a new asset class for investors to invest in. A SaaS company that has contracted revenue can apply for financing upfront (rather than waiting for cash to come in monthly), and Vitt will analyse their financial data to give them a financing decision in a matter of minutes.
With software being central to the modern economy, there is considerable opportunity for this start-up to build a substantial business. Backed by some of the best early-stage funds and operators on the planet, Vitt certainly has the opportunity for growth.
Steph
Company Specialist at Welcome to the Jungle