Braavo, a startup that provides financing to mobile app developers, is announcing that it has raised $6 million in Series A funding.
The might not seem like much compared to the $70 million that Braavo announced raising last year, but that was debt financing, used to loan money to developers.
This new round is equity financing, used to fund Braavo’s own operations and growth.
Co-founder Mark Loranger told me Braavo was founded in 2015 in response to the “new dynamics” of mobile app businesses.
And it’s worked with developers including Verv, Fanatee an Pixite.
“The data is there to create ways to provide financing to companies that otherwise would have to raise more [venture funding] and dilute themselves,” Loranger said.