When we started RITMO, we were convinced that companies needed a different way of funding that went beyond traditional ones; a non-dilutive, flexible and fair way.
We are proud to announce that we have just closed our first financing round at 3 million EUR. A round that has been led by Sabadell Venture Capital, Inveready and JME, as well as other investors such as Bruno del Ama, CEO of Finrebel and Alfredo Soriano, Senior Advisor of JB Markets.
Thanks to this capital injection, RITMO will maintain a hybrid of capital and venture debt in its financing structure which will allow us to meet our goal of financing 15 million euros to digital businesses with recurring or predictable revenues this year.
We have three clear objectives:
Since we started our adventure five months ago, we already have agreements to finance more than five million euros and various financial and technological agreements that will allow us to boost our growth.
At Inveready, Ignacio Fonts states “RITMO represents another link in the deconstruction of the financial system that fintechs are carrying out. Their approach to the credit assessment of companies, through the information they extract by connecting to their customers' applications, gives them a considerable edge over traditional credit providers”.
From Sabadell Venture Capital, Raúl Rodríguez points out that “at Banco Sabadell, as a banking institution, we believe that financing is a lever for growth and economic and social development. The RITMO team and their approach to the market are reinventing the way in which digital companies can finance the growth of their businesses in a more flexible way that adapts to their sales cycles”. And in line with this he adds “we are excited to partner with entrepreneurs like Rai and Pablo who share our mission, and we see that far from competing, they are a complementary solution that will strengthen the growth of the digital economy”.
JME Ventures, Samuel Gil highlights “RITMO is changing the way companies finance themselves. They offer a very attractive product thanks to their flexibility and speed. All of this is supported by technology, which is what really makes them stand out from other financing providers”.
For his part, Bruno del Ama says “At FinRebel we only link with companies that share our values and that are focused on improving people’s lives. RITMO meets those criteria because of its focus on helping entrepreneurs grow their digital businesses regardless of their gender, background or education, thus making digital investment democratic”.
The announcement of the closing of our first round of financing has been a success in the media. The main economic newspapers in our country have reported the news, with Cinco Días highlighting the participation of Sabadell Venture Capital, Inveready and JME Ventures as investors in RTIMO and the publications Expansión and La Vanguardia focusing on our goal of expanding our business in the coming months.
In addition, other publications from the world of entrepreneurship have also covered the capital injection we have received, such as El Referente , which interviewed us a few months ago, and Emprendedores .
The news has also reached the international press; Marcel van Oost has called peoples’ attention to the injection of 3 million euros that we have achieved in our first round.
We offer non-dilutive financing and growth tools to digital companies in order to help them scale their businesses quickly and flexibly. This funding is especially aimed at E-commerce and SaaS companies, as well as any digital entrepreneur with recurring or predictable revenues.
When a company applies to us for funding, we analyse their data and the performance of their digital marketing campaigns. If the growth figures are right, we advance up to 2 million euros. Subsequently, the company pays us back a small percentage of its future revenues.
We do not have fixed monthly payments, the company simply reimburses us the money with a percentage of their monthly income until the total amount borrowed plus a 6% commission is paid. A fixed, clear and transparent amount.
This way we adapt to the evolution of the business: if income decreases, so do payments and the cost period is extended. In other words, we offer a financing model that helps companies so that they only have to worry about digital marketing campaigns, while we provide them with the funds to meet their challenges.
Our commitment to non-dilutive financing of digital businesses is a transparent and fast process designed by entrepreneurs, for entrepreneurs.
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