Who?
Debite’s CEO is serial entrepreneur Tayga Baltacıoğlu, who successfully built and scaled cleaning technology venture Cleanzy globally. His fellow co-founders are CFO Andres Korin, who spent 12 years in risk management at J.P. Morgan before founding a consumer FinTech startup and advising other early-stage companies; and Engin Attar, head of product and growth, who previously worked as a management consultant at Bain & Co. and also has experience building and scaling an international startup.
Why?
While leading Cleanzy, Baltacıoğlu realised traditional lenders were failing startups through a lack of funding support.
What?
Debite helps businesses more effectively manage their cash flow and maximise their growth potential. Its Debite initial products in the UK are ‘Save & Spend Loans’ and a ‘Boosted Debite Card’.
How?
Debite’s Buy Now Pay Later model means customers benefit from smoothing the cost of expensive business payments, such as subscriptions, marketing and inventory, via a flexible and affordable repayment plan. Debite’s long-term ambition is to become a comprehensive banking and financial management solution for underserved early-stage businesses.
Where?
Dittolo is based in London and has raised a £2.5m pre-seed equity funding round.
They say:
Baltacıoğlu: “So many early-stage companies start out with amazing ambitions and the potential to do incredible things, but issues with managing the heavy burden of operational costs, and a lack of attractive funding options from traditional lenders to help smooth cashflow, means that growth is often stifled. We know this market is ripe for innovation and we have huge growth plans to meet this challenge. We cannot wait to fuel the success of the next generation of business champions.”