Chilean fintech Levannta announces $2M funding round

The Chilean fintech Levannta has closed a $2M funding round. The company developed a business model with which companies can put their future income to work without going into debt and without losing control of their company.

Levannta provides financing to companies that operate under a recurring revenue/subscription model. Companies under this model tend to suffer from liquidity and working capital problems.

The startup connects to the financial information and subscription portfolio of companies. Levannta’s technology uses this data to assign a grade to the company, and sends the capital in advance accordingly.

“Through artificial intelligence, [Levanta] is able to evaluate and propose a rate to buy the future income of those seeking capital,” explains Manuel Astaburuaga, CEO of Levannta.

The fintech is now officially launching its platform. Levannta already has 15 clients, and 50 to 70 companies are in the onboarding process. 

The $2M round is comprised of equity and debt capital, and it will be invested in further strengthening the company. One of the startup’s main objectives until the end of the year is to make the product known in the country and attract more clients. 

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