SaaS costs down, growth capital up: Spendbase and Levenue partner
London, 30 October 2024 - Spendbase, a global platform that helps businesses manage their SaaS, cloud and corporate expenses, and Levenue, UK and Europe’s premier revenue-based financing marketplace, are announcing a strategic partnership to empower mid-sized companies to automate corporate spend management, while accessing flexible alternative financing options to support their growth.
The collaboration combines Levenue's strength in non-dilutive growth capital, with Spendbase's powerful spend management solutions, which simplify financial operations for fast-growing companies. Through this partnership, Spendbase users will gain access to flexible financing options on Levenue’s alternative finance marketplace, enabling them to scale without sacrificing equity, staking personal assets as guarantees, or incurring high-interest rates.
Levenue connects SaaS businesses with investors across the UK and Europe, enabling companies to secure funding based on their monthly recurring revenue (MRR), in 16 connected countries in Europe.To date, Levenue has enabled investors to provide 750+ startups with over £400m in total financing. Levenue’s model ensures that businesses can unlock much-needed growth capital based on their revenue streams, while maintaining autonomy over how they use the funds.
A game-changer for mid-sized businesses
Key benefits of the partnership include:
- Access for startups to non-dilutive capital at scale: businesses can now leverage their recurring revenue to secure up to 35% of their Annual Recurring Revenue (ARR) through Levenue’s platform, with no personal guarantees required.
- Financial flexibility: with Spendbase’s tools, clients can streamline spend management, while Levenue provides transparent and flexible financing options, helping companies boost their growth with the capital they need, when they need it.
- Enhanced visibility and control over both costs and cash flow for businesses using Spendbase
Founded by Andrew Alex in 2022, Spendbase has emerged as one of the best-rated solutions for companies looking to gain control over their corporate spending. From SaaS subscriptions to cloud and corporate card management, Spendbase automates the entire process, offering real-time tracking and expense optimization. Spendbase simplifies management while reducing the risks associated with manual errors and unsanctioned purchases.
On average, mid-sized companies use more than 200 SaaS products, spending up to $5M annually. But without proper tracking, many end up overspending - whether by paying for unused services, purchasing redundant software, or forgetting to update user access. Similarly, a typical company of 500 employees wastes €630K each year on manual tasks like submitting, approving, and reimbursing expenses. Without an efficient system, managing corporate spending becomes a costly and time-consuming process.
Today, the Spendbase platform helps businesses save between $500K and $1M annually, avoiding overspending and inefficiencies that can result in financial losses.
“We are thrilled to partner with Levenue to offer our customers more than just visibility into their spending,” said Andrew Alex, CEO of Spendbase. “Now, they’ll have access to financing solutions that help them grow sustainably while avoiding the pitfalls of traditional loans or equity dilution. By providing additional financial tools, Spendbase enables companies to scale with confidence and maintain financial stability.”
Ben Rieder, Co-founder and CEO of Levenue, says: “Together, Spendbase and Levenue offer a comprehensive solution that not only helps businesses control their corporate expenses but also provides them with the capital they need to fuel their growth. By automating spending processes and introducing funding, mid-sized companies can now maintain financial health while scaling effectively.”
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