Uncapped review UK 2026: fixed-term funding for online brands, after the RBF exit

Who Uncapped are

Uncapped Ltd (Companies House 12258266) was incorporated on 12 October 2019 and is registered at International House, 36-38 Cornhill in the City. It was founded that year by Asher Ismail and Piotr Pisarz with a £10 million launch round, followed by a $26 million round led by Mouro Capital in September 2020. Pisarz is chief executive and has been a director since day one. The accounts name Mouro Capital as the largest shareholder but say it does not exercise control; the directors treat Pisarz as the ultimate controlling party. Ismail resigned from the board on 16 November 2023 and ceased to be a person with significant control the same day. Manuel Silva Martinez has sat on the board since August 2020, and Georgia Watson served from January 2024 to July 2026.

The structure matters more than it looks. Uncapped Ltd itself is filed under a software development code. The lending sits in Uncapped Finance Ltd (12287260, credit granting), with two further vehicles, Uncapped Finance II Ltd (14002297) and Uncapped Finance III Ltd (14284836). Finance III holds the only outstanding charges over the parent and Finance Ltd, created in November 2022, which is what you would expect of the entity that carries the funding line. The website terms of use say the service is owned or controlled by Uncapped Technologies Inc., a Delaware company, while the footer copyright reads Uncapped Ltd. Which of these signs your offer letter is not stated on the site, so read the name on the paperwork. The group also has subsidiaries in Warsaw, Berlin and West Hollywood, is remote-first, and the FAQ support number is a US line.

On regulation: a loan to a limited company is not a regulated credit agreement, so Uncapped does not need consumer-credit permissions to do what it does. We could not find an FCA register entry for any Uncapped company. No Uncapped entity appears in the FCA's EMD agents file as at 6 September 2026, and no FRN appears on the homepage, legal page, terms or FAQ in any capture we read. The register's own search would not run for us, so we say “could not find” rather than “is not”. One introducer site describes Uncapped as regulated by the FCA; nothing we found supports that, so we do not repeat it. Your protections with Uncapped are the contract, which is normal for this product and a reason to read it.

The revenue-based finance exit

Uncapped built its name on revenue-based finance and then walked away from it in public. A post on its own blog, headed “Uncapped remove Revenue Based Financing (RBF) offering”, opens: “Today we've made the easy decision to completely stop offering Revenue Based Finance (RBF) to our clients.” It goes on to say the company “haven't offered this type of loan to customers for over a year unless they expressly asked for it” and that there were “no new RBF deals underwritten in 2023”. The post carries no date on the page; the earliest archived copy is from 30 September 2023, so it went up on or before then. Fixed-term loans, it says, had been on offer since 2021.

The FAQ says the same thing in fewer words: “We no longer offer revenue based financing and instead offer fixed term loans and line of credit for eligible businesses. We don't take equity, personal guarantees, warrants, or hidden fees.” The blog post is blunter still. It refers to “the potentially misleading RBF option” and lists Wayflyer, 8fig, Shopify, PayPal and Outfund as providers that still offer it. A lender calling its former flagship misleading is rare, and worth keeping in mind when you meet comparison pages that still list “Uncapped revenue-based financing from 2%”. Finder's UK page, last updated October 2024, does exactly that. Those products are not on Uncapped's site.

Why this page sits under our revenue-based finance hub at all, then: because that is where people go looking for Uncapped. What it sells today is closer to a fixed-term business loan repaid by direct debit than to anything that flexes with sales. If you want repayments that fall in a quiet month, the lenders on this hub that still write that product are Outfund and Wayflyer, and for a business paid through a card machine, a merchant cash advance.

Three products, and the numbers that do not agree

The UK homepage lists three products, each with its own revenue floor. Funding for Amazon Sellers is “for sellers with £10K+ monthly revenue”. Fixed Term Financing (called Growth Working Capital in the site navigation and Fixed Term Loans in the FAQ) is “for brands with £100K+ monthly revenue”. The Line of Credit, launched by press release on 24 January 2024, is “for brands with £500K+ monthly revenue” on the homepage, while the product page itself asks for “at least £5m in annual revenue”. Those two figures are roughly consistent with each other; the point is that the credit line is a product for a business already doing several million a year.

The amounts are where the site disagrees with itself. The homepage and about page say “from £100K to £2M”. The Fixed Term Financing page says “Loans from £10K-10M”, the Amazon page says “Available funding £10k to 10m”, and the FAQ says “Offers range from $10K to $10M depending on business”. The £100,000 to £2 million figure is the most recent one on the homepage and it matches the audited accounts' description of a shift “from large to mid-market loans”, so we treat it as the working range. A £30,000 request sits inside the product-page wording and outside what the homepage is built to sell. Sizing rules that are published: Amazon-seller funding “generally going up to 1-1.5x your MRR”, and a credit-line limit “typically up to double your monthly business' revenue”.

A caveat on freshness. The latest archived copy of the UK site is from September 2025; the .com homepage captured in August 2026 has the same structure with the same numbers in dollars. The site is US-oriented in places (dollar figures in the FAQ, a US support number, an electronic-disclosure notice marked US only), so a UK applicant is right to confirm the sterling terms and the contracting entity before signing rather than assume the web copy is the offer.

What you actually pay

The FAQ is specific on term loans: “we charge a fixed fee on our capital from 0.7% to 1.5% per month. The average monthly fee is 1%. There is no interest rate. You'll know the exact total amount you are paying before you accept the offer of capital.” The product pages say “as low as 0.8% p.m.”, a tenth of a point apart from the FAQ, which is the sort of gap that comes from pages being updated at different times. The term runs to a maximum of 24 months and you set a daily, weekly or monthly schedule, collected by direct debit.

Put the published band into pounds. If the fee is applied to the full amount for the whole term, £150,000 over 12 months at the average 1% a month is £18,000, so £168,000 back. At 1.5% it is £27,000 and £177,000 back. At 0.7% it is £12,600. That is our arithmetic on Uncapped's stated band, not a quote; how the fee is calculated on a shrinking balance is not set out on the site, so the offer letter is the only number that counts. What the arithmetic does show is that a 24-month term at 1% a month is a fee of roughly a quarter of the amount borrowed, which is a lot of money for a product with no interest rate.

Early settlement is the clause to read twice. In Uncapped's own words: “Uncapped loans have a fixed fee, so paying off your loan early does not result in a reduction of the total amount due or interest savings. The primary benefit is that your repayment obligations will conclude sooner.” Even that option “depends on the terms of your signed agreement”. A brand expecting a strong quarter and hoping to clear the loan cheaply is in the wrong product; the whole fee is owed on day one.

The line of credit prices differently and is the better-designed of the two for anyone who will repay early. It carries “a simple fixed annual percentage rate (APR) starting as low as 10.99%”, fixed for the term, with the rider that “if you choose to renew your facility at the end of the term, the APR may be updated at that time”. You pay interest only on what you draw. Repayments fall every 14 days and are “calculated as a percentage of your outstanding balance” during the draw phase; in the repayment phase the balance “is paid down in equal installments of principal and interest over the remaining term”. There are no prepayment fees and early repayment cuts the interest. The catch is the door: £500,000 a month, or £5 million a year, depending on which page you read.

Who gets approved, and how fast

Uncapped works with “Limited Companies with at least six months of trading history”. The FAQ closes the other door in one sentence: “Unfortunately, sole traders are not eligible.” Customers are “predominantly in the ecommerce space”, though Uncapped says it will “accommodate offline sales if data can be provided”, and its case studies include software businesses alongside consumer brands. Underwriting runs off connections to Amazon, Shopify, Walmart and Stripe plus your bank and accounting software, which is why the revenue floor is stated per month rather than per year: the model reads a live sales feed.

On security, the published position is as clean as any in the market: “We don't take equity, personal guarantees, warrants, or hidden fees.” The product page repeats it as “No personal guarantees or dilution required”. What the site does not say is whether a debenture or other charge is taken over the company itself. The group's own funding line is secured on the customer loans it has written, which tells you nothing either way about your agreement. Ask what security the offer letter takes; “no personal guarantee” and “unsecured” are different sentences.

Credit checks are light but not absent. Applying “won't affect your personal credit score”; for larger businesses decisions are made “exclusively based on your business information”, while for smaller ones Uncapped “might need your personal credit data to help with our underwriting”. Key people verify identity with a selfie and a photo of official ID. A declined applicant can reapply after 60 days. The Amazon page claims “an approval rate of ~80%”, which is the lender's figure and unaudited.

Speed, in Uncapped's words: “Apply in minutes, get a decision in 48 hours” on the homepage; “funds normally arrive in your bank account within 1-2 business days” and “as little as 24 hours” in the FAQ; “Offers within 24 hours” for Amazon sellers. Two timing details that are easy to miss: repayments “begin on the date agreed on your Offer Letter”, which is “typically the same day you receive the investment in your bank account”, and an Amazon seller's schedule “cannot be changed after the funds are disbursed” to line up with Amazon payouts. The Amazon page advertises a payment holiday of up to three months, with eligibility conditions it does not spell out.

What the accounts to April 2025 show

Uncapped Ltd files audited group accounts, which is more than most lenders in this corner of the market do, so we read them. For the year to 30 April 2025 the group lost £10,430,262, against a loss of £1,227,681 the year before. Loans and advances to customers stood at £36.4 million at the year end, down from £72.7 million. Loan-loss provisions doubled, from £3.76 million to £7.54 million. The funding facility drawn fell from £65.0 million to £31.5 million. Net assets were £15.8 million, cash £10.2 million (ring-fenced collections), and the average headcount was 35, against 37 a year earlier. Uncapped Finance Ltd, the lending subsidiary, showed net liabilities of £3.5 million and relies on the parent's support for going-concern purposes.

The directors' own explanation: “The loan book decreased year on year as the Group shifted its strategy from large to mid-market loans. The loss before tax increased due to higher loan losses and interest expenses.” They add that “the Group has secured new partnerships which are performing well.” Press coverage in October 2023 reported a £200 million facility from Fortress; the accounts describe an “existing £100m loan facility”, extended in May 2025 for 24 months to 30 May 2027, at a variable rate, secured on group assets and carrying financial covenants. We cannot reconcile the two figures from the outside, so we give you both.

What a borrower reads into this is different from what an investor does, and the difference matters. You owe Uncapped; Uncapped does not owe you. A lender's solvency is not your risk in the way it would be with a bank holding your deposits. Your risk with any lender is service and terms: whether the facility is still there when you want a top-up, whether criteria tighten mid-relationship, whether the people answering the phone are the same people next quarter. A loan book that halved in a year, provisions that doubled and a deliberate move away from large loans tell you Uncapped's appetite has narrowed, not that it is unsafe to borrow from. Read it as: expect the £100,000-plus, six-months-of-data criteria to be applied as written, and do not build a plan around a top-up that has not been offered.

What 260 Trustpilot reviews show

As of 7 September 2026, Uncapped holds 4.6 out of 5 on Trustpilot from 260 reviews: 91% five-star, 1% four-star, under 1% each at three and two, and 6% one-star. The profile was claimed in May 2022 and the most recent review is dated 4 August 2026. The score is good. The sample is the caveat. Uncapped's about page claims more than 2,000 loans and the homepage says it is “chosen by 1000s of founders”; 260 reviews against that, four years after the profile was claimed, is a count that has barely moved, so read it as a small sample of mostly happy customers rather than a verdict on the current product. For scale, the Liberis profile we reviewed carries 1,690.

We do not quote individual reviews on this page because we could not read the full set on the live profile, and a handful of one-star reviews out of 260 is too few to call a pattern honestly. If you want a signal from the reviews, it is the absence of one: no cluster of complaints about the fixed fee or the collections process surfaced in what we could see, which is consistent with a lender that publishes its total repayable before you sign.