Sanloa San Francisco-based fintech startup that provides small and medium-sized games and app companies access to tools to manage their finances and capital to fuel their growth, raised $10M in series funding Led by Konvoy.
The startup was founded in 2020 by CEO Olya Caliujnaia and CTO William Liu, who both have a background in fintech and gaming. Sanlo provides companies with access to technology, tools and information that aims to help them achieve scalable growth. When Sanlo determines that the company could benefit from deploying capital, the startup helps by offering funding. Sanlo notes that this is not a venture capital fund that takes equity in exchange for financing or a lender that charges compound interest. The amount of financing provided varies, but it is non-dilutive capital, which means that Sanlo does not take any equity stake in the companies it finances.
Caliujnaia told TechCrunch in an interview that one of the differences between Sanlo and other fintech companies is its focus on game and app developers. She noted that while there are other companies that focus on other e-commerce or SAAS verticals, Sanlo is focused on gaming and consumer apps.
“We are a technology company, not a fund,” Caliujnaia said. “It allows us to act quickly and be transparent about how we work and how we arrive at the products we build and deliver to customers. We also build a full line of products, it’s not just about growth capital. Developers have other options through publishers, VCs, and banks, but these usually involve complex and time-consuming processes.
To start, Sanlo asks companies for certain types of data, including product data on how the app or game is monetized. Sanlo also obtains information on customer acquisition and retention, as well as marketing data and a subset of financial data. Its predictive algorithms then continuously monitor the company’s growth trajectory to surface insights to identify where and how the company can grow. Sanlo then provides businesses with access to capital.
Regarding the new funding, Caliujnaia said that Sanlo would use the money to create more products for developers and to recruit more people to expand its 15-person team.
“The plan is to develop more products and grow the team,” Caliujnaia said. “We are looking for passionate people to help us build better and faster. We work primarily with people in North America at this stage, but are open to talented people in other places around the world.
The funding round included participation from existing investors including Initial Capital, Portag3 Ventures, XYZ Venture Capital, London Venture Partners and Index Ventures. The funding round also included the participation of new investors, including Fin Capital, GFR Fund and a number of angel investors. Sanlo’s Series A funding comes a year after the announcement of $3.5 million in seed funding co-led by Index Ventures and Initial Capital.
As part of the funding announcement, Sanlo also revealed that it has partnered with HCGFunds to expand its capital pool to $200 million to provide funding to the developers it works with.
Sanlo has spent the past 12 months onboarding select developers and is currently working with dozens of companies. Caliujnaia said the company carefully selects companies to work with and checks in with them regularly to enable close collaboration. In one instance, Sanlo said he helped a large game publisher looking to consolidate and gain visibility into cash flow across multiple platforms. The company also helped a subscription-based consumer app developer who wanted additional financial bandwidth to get budget builders to boost monetization. In another case, Sanlo helped another game developer who was looking for predictable, non-dilutive capital to fund the development of their growing game portfolio.