Debt financing for
Marketplaces & Platforms
Marketplaces and platforms are asset-light, but their payment flows and net revenue are financeable. Debt can fund growth on the strength of take-rate revenue, and working-capital facilities can be structured against the receivables and payment cycles running through the platform.
The first thing every lender separates is gross flows from net revenue. A marketplace is underwritten on its real take rate, the durability of that take rate, and the health of both sides of the network, not on GMV.
Best-fit products
The structures that work in Marketplaces & Platforms
Cashflow financing
Growth Debt
Larger, cheaper debt for scale-ups with established revenues.
$10M-$100MCashflow financing
Venture Debt
Non-dilutive runway for VC-backed companies, alongside or after a round.
$2M-$30MAsset-backed financing
Asset-Backed Lending
Revolving lines against receivables, inventory, MRR, or equipment.
$5M-$200MWhat lenders like
Why the sector attracts debt capital
- Net take-rate revenue is recurring-like and financeable
- Asset-light models scale without capex-heavy balance sheets
- Payment flows and receivables can collateralise working capital
- Network effects compound defensibility lenders can underwrite
What investors will ask
The diligence questions to be ready for
- Gross vs. net revenue: what is the real take rate, and is it durable under competition?
- Liquidity on both sides of the marketplace, and cohort repeat rates
- The working-capital cycle: who holds the cash, and for how long?
- Fraud and chargeback exposure, and how it is controlled
Products, criteria, and themes shown are indicative, not exhaustive, and subject to further diligence on the company and its assets. Every business is assessed on its own merits.
Track record
Deals we've advised in the sector
$60M
Asset Backed Loan
B2B Marketplace
$35M
Asset Backed Loan
EdTech
€15M
Venture Debt
PropTech
Marketplaces & Platforms FAQ
What founders and CFOs in the sector ask us most.
Still have questions? Talk to usYes. Lenders underwrite net take-rate revenue rather than physical assets, and working-capital facilities can be secured against the receivables and payment flows running through the platform.
Other sectors we cover
SaaS & B2B Software
Debt sized on ARR and gross profit, not EBITDA.
Learn moreFintech & Specialty Lenders
Warehouse and back-leverage facilities that scale with your loan book.
Learn moreHealthcare & MedTech
Defensive demand and reimbursement-backed revenue lenders can underwrite.
Learn moreE-commerce & Consumer Brands
Fund inventory and growth with the stock itself as collateral.
Learn moreHardware, Robotics & DeepTech
Tangible assets and order books that de-risk the lend.
Learn moreRaising in Marketplaces & Platforms?
Tell us about the business and we'll come back with an indicative view of structure, investors, and terms. No cost, no obligation.