Spendbase, a global platform that helps businesses manage their SaaS, cloud and corporate expenses, has partnered with European revenue-based financing marketplace Levenue to enable mid-sized companies to automate corporate spend management and access growth capital.
Through the new strategic partnership, Spendbase users will have access to flexible financing options on Levenue’s alternative finance marketplace, which means they can scale without having to sacrifice equity, stake personal assets as guarantees, or incur high interest rates.
Levenue connects SaaS businesses with investors across the UK and Europe, so that companies can secure funding based on their monthly recurring revenue, using Open Banking in 16 connected countries in Europe.
One of the benefits of the partnership cited by the two companies is that businesses can use their recurring revenue to secure up to 35% of their annual recurring revenue through Levenue’s platform.
Businesses can use spend management tools to get improved visibility and control over both costs and cash flow.
“We are thrilled to partner with Levenue to offer our customers more than just visibility into their spending,” said Andrew Alex, chief executive officer of Spendbase.
“Now, they’ll have access to financing solutions that help them grow sustainably while avoiding the pitfalls of traditional loans or equity dilution. By providing additional financial tools, Spendbase enables companies to scale with confidence and maintain financial stability.”
To date, Levenue has enabled investors to provide more than 750 startups with over £400 million in total financing.
Ben Rieder, co-founder and chief executive officer of Levenue, added: “Together, Spendbase and Levenue offer a comprehensive solution that not only helps businesses control their corporate expenses, but also provides them with the capital they need to fuel their growth.
“By automating spending processes and introducing funding, mid-sized companies can now maintain financial health while scaling effectively.”
