Booste raises PLN 54 million and begins global expansion

• Booste.com offers capital for the development and scaling of e-commerce businesses in the revenue-based financing model.
• The company has just received PLN 54 million (EUR 12 million) in funding from DialCom24, a leader of the Polish fintech industry.
• Just five months after acquiring its first customer, Booste begins expansion beyond Poland and enters three new markets: British, Irish and Dutch.

Revenue-based financing (RBF) offered by Booste.com is a flexible financing model that allows the repayment terms to be adjusted to the customer’s future revenue. The platform does not require its users to provide guarantees or collaterals but gives them the option to determine the frequency and form of return on their own. The client is given access to capital within 24 hours of accepting the offer, and the funds raised can be used to develop and scale the business by financing marketing activities, such as online campaigns and marketing agencies’ operations, or purchasing goods. In return, Booste charges one fixed fee: 6% or 9% respectively.

Booste is ensuring that SME owners can grow their e-commerce businesses by accessing flexible finance and additional resources, such as a knowledge hub featuring webinars and other content  advising on how to use financing to achieve the best results. The company also works with affiliate marketing agencies to help support clients with their growth activities and is in the process of building a menu of value added services for e-commerce brands. Through this, Booste is investing in the wider e-commerce ecosystem.

“The past year has seen a surge in e-commerce businesses launching with more people shopping online than ever before: in the UK alone, in January, online sales saw an increase of 74% year-on-year. But this means the competition is much harder too. Booste allows e-commerce business owners to cut through the noise by offering funds they can access and use to grow on their own terms. We’re excited to expand Booste to more businesses across Europe thanks to this funding.” says Jakub Pietraszek, CEO and co-founder of Booste.

RBF is gaining ground: according to forecasts, by 2027 the market is expected to reach $42.34 billion at an average annual growth rate (CAGR) of 61.8% globally. The Covid-19 pandemic has forced many businesses to migrate into the online sphere and look for new financing methods: flexible, fast and without unnecessary formalities, adapted to dynamically changing market realities.

“We aim at delivering a fast and flawless experience for our customers in the process of receiving financing and repayment. The newly raised capital will enable us to implement further automation and language localization of our service, which will help us deliver on that promise.” says Michael Kacprzak, CPO and co-founder of Booste.

Booste is a venture-building project of Tar Heel Capital Pathfinder. In January 2021, the startup announced it had raised PLN 2 million and that it was working on the next round.

“As an investor involved in the company from the outset, we are happy to see other industry leaders acknowledge Booste’s potential. I am confident that an investment from DialCom24 and Booste’s cooperation with other group companies will translate into the best customer experience and will allow the company not just to become the leading RBF provider in the newly added markets, but also quickly grow beyond them.” comments Michał Wrzołek, Senior Investment Director at Tar Heel Capital Pathfinder.

The funding will allow the company to, among others, grow the 15-person team and continue to scale up the platform to reach more businesses in Poland and across Europe.