Skalar launches fintech model to fund startup customer-acquisition without equity or fixed repayment

Skalar announced its public debut on Thursday, introducing a financing approach that bridges the gap between a startup’s customer-acquisition costs and the delayed revenue those customers produce. Backed by a seed round led by Monashees and a debt partnership with General Catalyst’s Customer Value Fund, the company has already earmarked more than $125 million to support sales and marketing programs for seven technology firms over the next year.

The model works by providing capital to cover acquisition spend, then collecting repayment from the revenue generated by the newly acquired customers. Repayment is not tied to a calendar schedule; instead, Skalar receives roughly 1.1 times the amount advanced, stopping once that threshold is met. If a customer churns early, Skalar absorbs the shortfall. For example, a $10 acquisition cost backed by Skalar would be repaid up to $11 of that customer’s revenue; if the customer leaves after eight months, Skalar would collect only $8 and write off the remainder.

Co-founder and CEO Sebastián Cárdenas emphasizes that the arrangement mirrors the cash flow of the financed customers rather than imposing a fixed debt service. “We only get repaid as they get repaid,” he told Crunchbase News. The flexibility is intended to prevent startups from curtailing growth-oriented spend when cash is tight, a common pressure under traditional venture debt. Unlike standard revenue-based financing, which advances money against existing contracts or revenue streams, Skalar funds a prospective revenue source and assumes part of the risk that the projected earnings may never materialize.

To manage that risk, Skalar conducts deep analysis of transaction data, measuring acquisition cost, customer lifetime, and revenue attribution. COO Daniel Castrillón says the firm continuously updates its risk assessments as new data arrive, positioning itself as an expert in underwriting these specific cash-flow profiles. The company sets minimum revenue targets for its borrowers; if a startup falls short, Skalar can accelerate repayment or halt further funding, though it does not claim rights to seize assets or impose strict cash-balance covenants.

Skalar targets technology firms that spend between $100,000 and $3 million per month on acquiring customers and that demonstrate a consistent margin between acquisition spend and earned revenue. The firm plans to work with no more than 15 companies annually, with its first seven clients comprising several Latin American businesses and a handful of U.S. firms. The seed round’s size was not disclosed, but Cárdenas described it as large by Latin American standards, with participation from Nido Ventures and industry-focused angel investors. General Catalyst’s contribution of debt capital also remains undisclosed.

Andrew Ziperski, a partner at the Customer Value Fund, noted that most technology companies in Latin America have lacked a financing option that matches the timing of customer-acquisition spend. Skalar’s entry fills that gap, offering founders a low-cost, duration-matched alternative to equity dilution or rigid venture debt. As the firm scales its portfolio, founders will need to weigh the benefits of flexible repayment against the possibility of accelerated payback or interrupted funding if performance targets are missed. The market’s response to this hybrid model will shape whether it becomes a standard tool for growth-stage startups seeking to fund the long tail of customer acquisition.