The innovative financial platform Tapline raised EUR 31.7 million in funding

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Funds in the amount of EUR 31.7 million were managed by the digital financial platform Tapline, created by a Bulgarian entrepreneur, which provides seed capital to young SaaS companies. This is what BalkanEngineer.com learned from Novini247.com.

Founded in 2021, Tapline removes the need to raise rounds and offers immediate capital to startups in as little as 48 hours. The platform lends startups funding for 6 or 12 months in relation to the future value of their income in the amount of up to 1 million euros.

The service offered by Tapline allows customers to quickly develop their business and gives them a personal credit rating. The application is made on the company's website and takes a few minutes. The Tapline model performs the credit analysis to confirm a financing decision, after which the company plans the investment within 2 working days.

The €30 million raised will allow the company to finance its SaaS customers in order to expand their businesses. "We fill the funding gap that many banks or regular depositors cannot provide or sustain in the short term," Tapline said.

Photo source: freepik.com