Recap closes pre-seed funding round

The fintech was only founded this year, and now Recap is receiving €1.25 million in its first round of financing. Business angels such as Jan Beckers and Ramin Niroumand are also involved.

Berlin-based fintech Recap has closed its pre-seed funding round, raising €1.25 million. The round is led by Israeli venture capitalist Entrée Capital. A number of business angels are also involved, including serial founder Jan Beckers and Finleap founder Ramin Niroumand. Other investors include Chris Adelsbach, Perry Blacher, Mark Ransford, Chris Hitchen and Simon Leicht. Recap will use the money to get its product ready for market and expand the team.

"The fact that we were able to attract excellent fintech investors and business angels for our pre-seed funding reinforces our mission to create the ideal funding for subscription economy companies," says founder Paul Becker. Together with his partner Jonas Tebbe, he started Recap 2021. Previously, they built the digital asset manager Liqid.

Through Recap, subscription economy startups can sell a portion of their recurring revenue for a one-time payment. This gives them funding without having to sell shares or pay interest.