Float raises €4.5M Series A to scale non-dilutive financing for European B2B SaaS

Float, a Stockholm-based fintech founded in 2019 by Cedric Notz (CEO, Swiss) and Jannis Koehn (German), has raised €4.5 million in a Series A led by CHAPTERS Group AG, a Hamburg-based holding company. Jan-Hendrik Mohr, CHAPTERS CEO, joins the Float board. The round funds team growth, UK expansion, and the construction of what Float calls an AI-native financial operating platform — a broader layer atop its core lending product.

Float provides revenue-based financing to European B2B SaaS and subscription companies. Rather than requiring equity dilution or asset collateral, Float advances capital against recurring revenue, which the company repays through a percentage of monthly receipts. The model is designed for software businesses with predictable subscription income that need capital for growth but are not yet at the scale where institutional VC or bank credit is available on reasonable terms.

Over three years, Float has deployed more than €100 million to over 130 European tech companies, grown revenue more than 100% year-on-year, and reached profitability on a net income basis — an unusual combination in a market where revenue-based finance providers have faced pressure from rising interest rates and deteriorating loan book quality.

Beyond lending

This round marks a product evolution. Float is expanding from pure lending into what it describes as an AI-native financial platform — combining revenue-based credit lines with banking services and financial automation tools in a single stack. The rationale is straightforward: companies that borrow from Float also manage their banking, reporting, and financial operations in fragmented tools. A lending relationship creates a data advantage; that advantage can be monetised by offering adjacent financial products that incumbents provide poorly.

The CHAPTERS Group partnership extends this logic further. CHAPTERS — whose largest shareholders include Daniel Ek's family office and Danaher founder Mitch Rales — brings strategic M&A capabilities. Float has publicly flagged interest in acquiring financial tool companies that complement its core platform. The Series A is partly a balance sheet round for lending and partly a strategic round for consolidation.

"The current global financial system is fundamentally broken for modern tech companies," Notz said. "While startups operate internationally from day one, banking remains stubbornly localised, bogged down by manual bureaucracy and fragmented tools. For too long the continent's best founders have faced one brutal choice: give away their company, or leave for America. We want founders to succeed here in Europe."

A profitable lender in a risky market

Revenue-based financing attracted significant criticism in 2024 and 2025 as interest rate increases squeezed the spread on short-duration tech loans and several providers took large write-downs on portfolios extended to companies that subsequently missed revenue forecasts. Float's claim of profitability is therefore a meaningful data point, though it is not independently verified in available sources. The company has not disclosed loss rates or portfolio concentration, which are the most relevant metrics for assessing the quality of an RBF book. The Series A is a signal of investor confidence; the underlying loan book performance is the fact this round is betting on.