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Boopos adds to its small business M&A lending pot with new investment

Boopos adds to its small business M&A lending pot with new investment Image
  • Posted on 01st Sep, 2022 13:33 PM
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The company underwrites online businesses in less than 48 hours and provides facilities for funding up to 80% of an acquisition.

Six months after announcing $30 million in equity and debt, Boopos, a Miami-based lending platform for business acquisitions and growth, is back with an even bigger round, a $58 million Series A, again in a mix of equity and debt.

The latest round includes $8 million in equity and $50 million in debt, Boopos founder and CEO Juan Ignacio Garcia Braschi told TechCrunch. Fasanara Capital, which led the initial seed round, is participating again, this time with Bonsai Partners leading the round and additional participation by Noa Capital Partners. Actyus and K Fund are also in the investor group.

Garcia Braschi started the company in 2020 to cater to business owners, mainly company aggregators, leveraging acquisitions as a way to grow their companies. Most small business acquisitions don’t often qualify for bank financing, and help from Small Business Administration loans can be slow and require personal guarantees, he said.

“For many people, that’s just too much risk,” Garcia Braschi added. “They are willing to take the risk of buying a business and being a business owner, but not risking their own assets. So many cases, too, the buyer is not a U.S. resident, which is something that happens with online businesses, and the loan is based on tax returns.”

Boopos adds to its small business M&A lending pot with new investment View Story