What is Snap Advances?
Snap Advances specializes in providing rapid access to working capital for small businesses. Unlike traditional loans, the company utilizes a unique purchase-and-sell agreement model, enabling merchants to receive funds within days. Repayment is flexible, tied directly to sales volume, and requires no collateral. This approach empowers small business owners to pursue their financial objectives and enhance their community presence. The company is actively seeking strategic partners to further its mission of merchant support.
How much funding has Snap Advances raised?
Snap Advances has raised a total of $31.5M across 2 funding rounds:
Private Equity
$3.5M
Private Equity
$28M
Private Equity (2013): $3.5M, investors not publicly disclosed
Private Equity (2015): $28M, investors not publicly disclosed
What's next for Snap Advances?
The substantial enterprise-level funding indicates Snap Advances is poised for significant scaling and market expansion. This capital infusion will likely be directed towards enhancing its service offerings, broadening its customer acquisition efforts, and potentially exploring new technological integrations to streamline its unique financing model. The company's focus on flexible, non-collateralized working capital positions it to capture a larger share of the underserved small business market.
See full Snap Advances company page
