Business lender Fundabl is rebranding as it ramps up its focus on venture debt for startups.
The three-year-old fintech will be known as Mighty Partners from October, changing its name just 10 weeks after announcing a $3.2 million raise from the likes of Stake founder and existing investor Matt Leibowitz.
Ethan Singer and David Salkinder founded Might Partners in 2021, then launched in March 2022, going on to pocket $16 million in a mixture of equity and debt later that year.
Its clients include startups such as Lyka, T-Shirt Ventures, Safewill, Tank Stream Labs, Nudge Group and Amber Electric.
Singer said the rebrand to Mighty Partners to reflects how the business has changed its financing focus.
“The name Fundabl played a key role in our early development, though it no longer fully reflects how we support and partner with our portfolio today,” he said
“We’ve evolved beyond just offering a short-term bridging solution and are partnering with founders over the long-term, including supporting many of our clients on multiple occasions. We’re partnering with businesses who are leveraging venture debt as a strategic choice to fuel growth. We want to help smart founders, be mighty.”
Nathan Ryba, made a partner last year, Mighty Partners offers approach centres around flexible, tailored debt funding solutions that enhance the attractiveness of venture debt. He sees the lender’s “sweet spot as mid-range deals at the $500,000 to $5 million mark.
“This includes flexible repayment terms through to structures that align with each startup’s growth trajectory and requirements,” he said.
“By addressing these changes earlier this year and developing a brand that encapsulates who we are and where we’re headed, Mighty Partners is creating a more robust venture debt market that complements existing funding sources and can emerge as market leader.”
The venture debt market in Australia is predicted to be worth around $360 million in 2025.
Others offering venture debt in Australia include OneVentures, Tractor, Lighter Capital and Leap.
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