Mergers and acquisitions (M&A) financing platform Boopos announced on Wednesday (Feb. 2) that it’s raised $30 million in a combined debt and equity Series Seed financing round.
U.K. FinTech Fasanara led the fundraising effort for Boopos, with additional investments from Zubi Capital and early investors The Venture City, Plug and Play Tech Center, K Fund and FJ Labs.
Angel investors included Eduardo Vilar, senior vice president of merchant solutions at Affirm, and Juan de Antonio, CEO and founder of Cabify, along with private equity and corporate executives.
Boopos underwrites online businesses in less than 48 hours and provides facilities for funding up to 80% of an acquisition under a revenue-based schedule, the company announcement says.
The company also works with business brokers to preapprove listings, allowing them to close a sale in less than 45 days. Boopos has 200 qualified buyers on its waiting list and partnerships with specialized brokers.
Boopos vets its buyers before they can access the company’s services to ensure they have the right skills and history to succeed in business ownership. The platform also offers analysis and access to preapproved listings posted by brokers, including 100 new Amazon, eCommerce and Software-as-a-Service (SaaS) listings a month.
“Our mission goes beyond backing business owners financially,” said Juan Ignacio Garcia Braschi, CEO and founder of Boopos. “We partner with them by analyzing target companies, betting on their acquisitions and giving them the confidence needed to make their deals happen.
“This Series Seed will help us scale as well as continue developing our exclusive business owner platform. We want to make sure that financing is not a blocker for talented and committed individuals.”
In other M&A news, the Federal Trade Commission may review Microsoft’s $70 billion bid for Activision in what would be its first test to show its new approach to mergers since the joint consultation with the Justice Department’s Antitrust Division to review merger guidelines.
Related: FTC May Show New M&A Approach in Microsoft Case
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