Financing structured around the customers you acquire.

Not a loan. Not an MCA. A purchase of future gross profit — non-recourse and capped.

The mechanism, in full

A cohort is the group of customers you acquire in a defined period through defined channels. We estimate that cohort's future gross profit from your historical CAC, contribution margin, and retention, then purchase a fixed share of it in exchange for capital today.

As those customers transact, a share of the gross profit they generate flows to us — until we reach a contractual return cap. At the cap, our claim ends and 100% of the remaining profit stays with you. If the cohort underperforms, we absorb the shortfall: there is no recourse to you or your business.

Why this is not debt
Repayment is contingent on performance, not fixed by a schedule; there is no interest rate, no maturity-date balloon, and no recourse. It is a true sale of a defined receivable.

Worked example (illustrative)

You deploy $1,000,000 into acquisition. That cohort is projected to generate roughly $3,000,000 in lifetime gross profit. We collect 55% of that gross profit as it arrives, stopping at a 1.30× cap = $1,300,000. Collection timing depends on cohort performance; the return cap is not an annualized interest rate — with no payment owed in any period the cohort doesn't perform.

Essay · Free to read

You are financing your biggest investment with the wrong instrument.

The long-form case for pricing capital on the cohort, not the company — and why equity, facilities, and MCAs all get it wrong. Read it free on-page, or grab the print-ready PDF.

Read the essay→