€1–3M loans that extend runway without diluting your cap table. From first call to close in 6–8 weeks.
Basel IV capital requirements have made pre-profitability tech lending uneconomical for commercial banks. The SVB collapse accelerated a retreat that was already underway.
At Late-Seed to Series A, equity dilutes at 15–25% per round. Each million of growth debt at this stage saves 4–5% of dilution on average, compounding to over €3–5M of additional founder value by Series C.
European founders are increasingly debt-sophisticated. Basel IV has structurally reduced bank lending capacity for pre-profitability tech. What remains is a clean choice: sell equity at 20% dilution, or borrow at double digit interest with minimal dilution. The math is straightforward for any company with recurring revenue and a credible growth trajectory.
| Option | Cost | Dilution | Speed | Priority |
|---|---|---|---|---|
| Equity round | High | 15–25% | 3–6 months | Subordinated |
| Bank loan | Low | None | Unavailable | Senior |
| Growth credit | 10–15% + warrants | Minimal | 6–8 weeks | Senior-secured |
Adjust the inputs to see how growth credit changes your cap-table trajectory.
Illustrative model only. Actual outcomes depend on full cap table composition, dilution rates, and exit value. Not financial advice.
The simple calculator above shows dilution at one round. This model applies the actual equity cost of growth debt and tracks your ownership through three events: the loan, your next equity round, and exit.
All dilution figures show the reduction in the founder’s own ownership stake in percentage points, not company-wide dilution. Warrant cost assumed at 20% of loan face value, full-ratchet anti-dilution assumed on warrants. Actual terms vary by deal. Illustrative only. Not financial advice.
30-minute conversation to understand your company, runway situation, and use of proceeds. No deck required at this stage.
If there's a fit, we'll set out the proposed structure and non-binding key terms within 5 business days of receiving your materials.
We run a structured process: management accounts, cap table review, reference calls with your lead investor. Our legal counsel works from a standard template to keep costs predictable.
Once due diligence and legal documentation are complete, the facility closes and is funded typically within 3 business days of all conditions being met. We remain available throughout the life of the facility. You will always reach a decision-maker, not a relationship manager.
Answer five quick questions. We'll tell you immediately whether your company fits our criteria, and why.
● 2 minutesWe review every submission and respond within 5 business days.
If you're outside our criteria, we'll tell you clearly.
Thank you for reaching out. We review every submission and will respond within 5 business days. If your company is outside our current criteria, we'll tell you clearly.
Every submission lands with the investment team directly. We run a first-pass review within 48 hours. If there's an initial fit, we'll reach out to schedule a 30-minute call. No intermediaries.
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