Building During a Downturn: How Capchase Grew in 2022

Miguel Fernandez
Miguel Fernandez
Co-founder & CEO
Posted on
December 13, 2022
min read
Building During a Downturn: How Capchase Grew in 2022

As we reflect back on the macroeconomic landscape this year, we’re ending 2022 very differently than how we began it. Over the last 11 months, interest rates have soared, VC funding has contracted, and many companies in the fintech space and beyond have chosen to implement sweeping layoffs in the face of market uncertainty.

But, fortunately, there is some good news.

Despite a seemingly bleak economic environment, SaaS has remained remarkably resilient. In the Pulse of SaaS report we published this year, we discovered that the 500 startups we analyzed continue to grow at a year-over-year rate of at least 50%. 

Additionally—and as reported in TechCrunch’s coverage of our report—companies that went against the grain and didn’t cut spending on sales and marketing were in a better financial position than those that did. As I’ve discovered in building Capchase these last two years, it truly does pay to invest in your teams and your people—they’ve been a huge contributor to our growth this year. 

At Capchase, 2022 has been an exciting year for us! We’ve grown our staff, more than doubled our revenue, and have been hard at work improving our product for our customers. We’re thrilled about our progress over the past year and hope you are too. 

We’ve seen an increased interest in revenue-based financing and have doubled down on expanding our funding product, Capchase Grow. We focused on improving our Knowledge Base, analytics, and adding new integrations this year. You can learn more about our 2022 product updates from our VP of Product, David Cheng, here

This year, we’ve also:

Brought our total funding raised to more than $900M: This year we raised an additional $480M in committed capital, including an $80M Series B announced in March and a $400M credit facility in July. This financial backing allows us to continue to fund growing SaaS companies into 2023 and beyond.

Seen demand for our solutions increased 350% year over year: We experienced record growth in 2022, in part due to economic headwinds and increased awareness of revenue-based financing as a funding option available to SaaS founders.

Increased our revenue 250% year over year: Our focus on SaaS has allowed us to maintain relatively low loss rates.

Europe now represents >30% of our business: This year we announced our European HQ in London and our expansion into Germany. It’s exciting to see these markets and others gain traction, despite the challenges the European market faces overall.

Grown our team by 35%: At Capchase, we’re fortunate to have not had to make layoffs, but this comes from the steps we’ve taken to build a stable and scalable organization since our founding. 

I think most founders would agree that the challenges of 2022 forced heavy introspection and honest—and sometimes difficult—conversations about inefficiencies. I wrote about some of the ways we’re building a resilient organization at Capchase here, and I’m especially proud of our Growth Advisor team who help our own customers make sense of their financial data and performance metrics, setting them up for success in 2023.

If you’re interested in hearing how revenue-based financing can help grow your business, learn more here

Here’s to continued growth for all in 2023!