Digital bank for 'high-growth' SaaS startups Arc raises $20M in funding
Arc, a digital bank for 'high-growth' SaaS companies, has raised $20 million in funding. Earlier this year, the business graduated from Y Combinator. Arc, a company that aims to give SaaS entrepreneurs with a "one location to borrow, save, and spend," has raised $20 million in a Series A round of investment. The business emerged from secret mode seven months ago with $150 million in debt investment and $11 million in startup money. While it is still early, Arc believes that their solution, which provides loan financing as well as digital banking services to SaaS enterprises, has generated a lot of interest. Since the fourth quarter of 2021, the company's revenue has climbed by 250% on average per month. Stripe is a partner and one of the world's largest and most valued private fintechs. When Arc first gained public attention in mid-January, the firm announced that more than 100 businesses had signed up for the Arc platform since the summer launc...