Onramp Funds offers a data-driven working capital product that uses historical sales data to build forecasts and provide financing for shipping, fulfillment, advertising, and inventory costs. The company charges a percentage of sales (typically around 1%) as its revenue model. CEO Eric Youngstrom founded Onramp in 2020 after his experience at ShippingEasy and Stamps.com, citing merchants’ short-term cash needs as the impetus. Since launching the working capital offering nine months ago, Onramp is working with hundreds of customers, some repeat users, and reports revenue growing 30% month over month. The company has 27 employees and is also providing merchants guidance on supply chain challenges. Planned uses of capital include building out the customer acquisition engine and hiring in engineering, product, sales, marketing, and client success.

Total raised

$42M

Funding rounds

2

Latest round

Equity

Latest activity

May 2022