Braavo Capital Inc., the leading financing partner for consumer subscription apps, announced the successful closing of a $5 million Series B funding round. Led by existing insiders with participation from Series A lead investor Headline, and accompanied by a new $30 million debt fund with Upper90, this capital injection marks a significant milestone for Braavo’s continued expansion.
Established in 2015, Braavo has emerged as the global leader in financing solutions for founders seeking to scale their app businesses without resorting to unnecessary equity raises. Having facilitated over $1 billion in financing since inception, the company’s profitability in its core financing operations underscores its commitment to empowering the subscription app economy.
Mark Loranger, CEO & Co-Founder of Braavo, commented, “This new round of equity will fuel Braavo Growth Ventures, an initiative aimed at fostering innovation in the consumer subscription market. While we continue to grow our financing business, we are also excited to apply our years of experience and extensive relationships in the market to embark on this new venture.”
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Operating as a distinct division within Braavo Capital, Growth Ventures focuses on strategic partnerships with app businesses to drive subscriber growth through web monetization (commonly known as web2app). Loranger elaborated, “Adding capabilities for web monetization in addition to in-app purchases presents a significant opportunity for subscription app businesses. However, for many, this transition can be daunting and costly.”
After operating in stealth mode for over a year to assemble a skilled team and develop its proprietary growth platform, Growth Ventures is now poised to unveil its web2app offering to a wider audience. Billy Libby, Founder & Managing Partner at Upper90, remarked, “Upper90 was an early credit partner and has been impressed with Braavo’s disciplined approach to underwriting and customer acquisition. We are excited to continue to partner with Braavo on their next phase of growth.”
Beyond web2app, Braavo envisions a broader investment strategy for Growth Ventures, as Loranger noted, “Our focus extends beyond subscriber acquisition. Over time, we aim to forge deeper partnerships with our most successful portfolio companies.”
SOURCE: PRNewsWire