FundThrough has raised about $15 million in total equity
Steven Uster · FundThrough Hits $240m in Invoices Advanced to 2k+ Founders · Dec 6, 2020 · at 14:46
Steven Uster, co-founder and CEO of FundThrough, discusses the fintech company's equity fundraising history with Nathan Latka.
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“So all in, we've raised about fifteen million dollars in equity you know, going from angel seed rounds or seed extension to a seared A and so, and that's been primarily through local Canadian VC firms and high net worth individuals sort of angels call it.”
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More from Steven Uster
Uster: Invoice funding is cheaper than early customer payment discounts
“It is cheaper than giving a discount to your customer to getting paid early.”
Uster: FundThrough operates with a 100% debt advance rate
“The beauty of a model that we have right now is that we have a hundred percent advance rate. So our cost of debt is actually our total cost of capital.”
FundThrough claims an LTV to CAC ratio of 7x to 9x
“What we'd say is our ratio of LTV to CAC has been quite strong. You know, somewhere in the range of seven to nine.”
FundThrough charges 1% to 2% monthly on invoice advances
“It's typically somewhere in the range of one to two percent a month or one and a half to two percent a month.”
Uster: Early invoice advances were financed at 15% interest or profit shares
“At the time, the debt, well, with no track record and no history I was paying 15%. And for, at some point it was 15%, and for others, it was just a sort of a profit, it was debt, but it was a profit share of what I made by advancing that.”