Revenue-Based Investing: A New Option for Founders who Care About Control
David Teten
AUGUST 19, 2019
I asked Michael Hoffman, Partner and General Counsel of Feenix, how he compared his firm with tech-enabled Merchant Cash Advance companies, e.g., Clearbanc , C2FO , Shopify Capital , etc. the amount of the financing (this multiple is called the “cap”). At maturity, which is typically 3 to 5 years, any unpaid amount of the cap is due.
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