Exclusive: Capchase, The ‘Affirm for B2B,’ Secures $200M In Debt And Equity
Capchase raised $26M in equity and a $174M credit facility to scale its B2B payment platform. The company has shifted from SaaS revenue financing into vendor financing with AI tools.
Intelligence analysis by GPT-5.4 Mini
Capchase has pivoted from revenue-based financing to a B2B buy-now-pay-later platform that helps vendors get paid upfront while buyers spread payments out. The company says the new $200M package will help it expand in enterprise tech and new geographies.
Capchase helps companies sell things without making the buyer pay all at once. It is like a store that lets someone take home a bike today and pay a little every month, while the store still gets most of its money right away.
The company used to help software businesses borrow based on their future sales. Now it focuses on a different job: helping sellers offer flexible payment plans to other businesses.
The new money helps Capchase grow into bigger companies and new countries. It also uses computer programs to do a lot of the paperwork fast, instead of making people wait days.
Analysis
What Capchase raised
Capchase says it secured a new round made up of $26 million in equity and a $174 million credit facility. 01 Advisors led the equity round, with participation from Caffeinated Capital, Thomvest Ventures, Scifi VC, Bling Capital, Invesco and others.
What the company does now
The New York startup was founded in 2020 and first became known for revenue-based financing for SaaS companies. By late 2022, it had shifted into vendor-financing software and has now fully stopped its earlier financing line. Its current product lets software and hardware vendors offer flexible payment terms while Capchase pays them upfront, minus a financing fee.
Capchase describes itself as a B2B buy now, pay later layer embedded in sales workflows. The company says it works with original equipment manufacturers, software vendors, and cybersecurity providers.
Why the round matters
The company says demand increased as sales cycles lengthened and interest rates rose, pushing buyers to prefer installments and delayed payment. Capchase says its workflow now uses AI and machine learning agents to automate tasks such as quote parsing, payment-link creation, and email coordination across vendors, resellers, and buyers.
Fernandez said Capchase has seen 400% growth over the past 12 months and expects another 200% growth next year. The company says it has grown to 75 employees, up from 50 a year earlier.
Where it is going
Capchase says it is moving further upmarket, serving larger and more established buyers, and is expanding beyond North America and Europe into Australia this year. The company also says the latest financing implies a valuation increase versus its 2021 Series B, though it is not disclosing the number.
Key points
- Capchase raised $26 million in equity and $174 million in debt, led by 01 Advisors.
- The company has fully moved away from revenue-based financing and now focuses on B2B vendor financing.
- Its software uses AI agents to automate quote processing, payment links, and email coordination.
- Capchase says it has grown 400% over the past 12 months and now has 75 employees.
- The company plans to expand in Australia and continue growing in enterprise markets.
