Deals
A clearer view of the venture debt & growth credit ecosystem.
News, intelligence and resources covering the growth lending market and the people financing, advising and building growth companies.
Latest news
- Deals
Fugro agrees €150m EIB facility for uncrewed vessel programme
- Deals
$4.2m BlackSoil financing backs OnMobile cloud gaming expansion
- Funds
GetRunway launches to lend up to £750k to near-profitable startups
- Deals
European banks and Bpifrance lend €13.8m to Medincell
- Deals
Orbit Capital provides up to €6m of venture debt to Coding Giants
- Deals
Hercules Capital provides debt financing as part of Suki's $90m Series E
- Deals
Claret Capital Partners provides $50m growth financing facility to LearnUpon
Lead story
seragy raises €12m from Commerzbank, MBG and Lower Saxony
The company is also one of five businesses funded by the Michael J. Fox Foundation’s Seed Amplification Assay Innovation Program.
1 min read15 Oct 2026DealsLatest Venture Debt News
Deals Fugro agrees €150m EIB facility for uncrewed vessel programme
The listed Dutch geo-data group has also extended the maturity of its existing €500m syndicated senior unsecured facilities to December 2031.
1 min read15 Oct 2026Deals $4.2m BlackSoil financing backs OnMobile cloud gaming expansion
The financing will be used to expand its ONMO+ Smart Console cloud gaming offering in India.
1 min read14 Oct 2026Funds GetRunway launches to lend up to £750k to near-profitable startups
The London-based lender is targeting venture-backed software companies with $1m to $5m of ARR that expect to reach profitability within 12 months.
2 min read14 Oct 2026Deals European banks and Bpifrance lend €13.8m to Medincell
The additional loan takes non-dilutive financing raised since July to €41.8m, after Medincell repaid half of its European Investment Bank facility.
1 min read14 Oct 2026
Deal trackerSeptember 2026
54 deals and $2.25bn of venture debt & growth credit funding.
Tap a segment to see deal countHover a segment to see deal count
$405.2MVenture debt
$1.66bnGrowth credit
$188.0MOther growth financing
Education
Helping the market understand growth lending.
Growth lending brings together different financing approaches, investment strategies and areas of expertise. Understanding where each fits matters to everyone involved.
Our practical guides help companies, investors, lenders and advisers understand how financing works, the trade-offs involved and the questions worth asking.
Explore our guides- Understanding Growth LendingWhat options exist across venture debt, growth credit and other debt solutions, which lenders provide them, and how they differ from raising equity.
- Raising Growth DebtFrom first conversation with venture debt and growth credit lenders through to signed loan agreements and the first drawdown.
- Terms & StructuresUnderstand the terms of a debt facility and what they mean for your business.
- Managing Growth DebtAfter closing, learn how to manage your debt facility and stay on top of covenants, reporting and refinancing.
IntelligenceLaunching soon
Every lender, fund, adviser and deal in one place
Undiluted Intelligence tracks the global venture debt & growth credit market: who’s lending, who’s borrowing and who’s advising.
- Investors & Funds
- Limited Partners
- Deals
- Advisers
- LenderClaret Capital PartnersVenture & growth debtEurope€2.0M–€100.0M
- DealPearl HealthVenture debtUnited States$60.0M
- FundOrbit Growth Debt Fund IIGrowth debtCEE€107.0M
- AdviserFieldfisherVenture debt & growth financeUK & EuropeLenders & borrowers
Intelligence launches later this year — sign up to The Stack to be the first to hear.
Get launch updatesAbout Undiluted
Undiluted is the independent news and intelligence platform covering the global venture debt and growth credit market.
We track venture debt deals, growth credit facilities, lenders, funds and advisers, alongside practical resources for founders and CFOs raising debt capital.
Our coverage spans Europe, North America, MENA and APAC, with news, market intelligence, research, events and conversations with the people financing growth companies.
More about UndilutedMore market activity
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Get involved
Ways to get involvedShare your expertise. Build your presence in growth lending.
Help the market understand your approach, the companies you work with and the expertise you bring. Explore opportunities to contribute perspectives, share financing stories or register interest in a future partnership. Contribute to a stronger growth lending ecosystem.
Frequently asked questions
What is Undiluted?
Undiluted is an independent news & intelligence platform covering the global venture debt and growth credit market. We publish venture debt news, market intelligence, research and practical resources for founders, CFOs, lenders, investors and advisers involved in debt funding growth companies.
What venture debt and growth credit news does Undiluted cover?
Undiluted tracks venture debt deals, growth credit facilities, lender activity, fund launches and other developments across the growth lending market. Our coverage focuses on debt financing for startups, scale-ups and other high-growth companies, with news from Europe, North America, MENA and APAC.
What is venture debt?
Venture debt is a form of debt financing commonly used by venture-backed and high-growth companies alongside, or between, equity funding rounds. It can provide additional growth capital while allowing founders and existing shareholders to avoid some of the dilution associated with raising more equity.
For a deeper introduction, read our guide to venture debt.
What is growth credit?
Growth credit is a broader category of debt financing for growing companies. It can include venture debt, recurring-revenue loans, term loans and other forms of private credit designed for businesses that may not fit traditional bank lending criteria.
Undiluted covers the lenders, deals and structures shaping the global growth credit market.
Who is Undiluted for?
Undiluted is built for everyone participating in or raising capital from the venture debt and growth credit market. That includes founders and CFOs of growth companies, venture debt lenders, private credit funds, banks, investors, lawyers, debt advisers and other specialist service providers.
Does Undiluted cover the venture debt market globally?
Yes. Undiluted covers venture debt and growth credit across major technology and growth markets including the UK and Europe, the United States and Canada, the Middle East and selected markets across Asia-Pacific.
Our aim is to provide a clearer view of how the global growth lending market is developing across lenders, borrowers, deals and geographies.
What is Undiluted Intelligence?
Undiluted Intelligence is our market intelligence platform for understanding the venture debt and growth credit ecosystem. It is being developed to bring together information on venture debt lenders, funds, advisers, transactions and market activity in one place.
It is designed to help founders, CFOs and industry participants research the market, identify relevant lenders and understand who is active across different sectors, geographies and financing structures.