David Beckham’s startup IM8 has taken on $1 billion in funding from General Catalyst’s Customer Value Fund (CVF), the company announced on Tuesday.
CVF doesn’t make standard venture equity investments, but offers what are essentially loans with some non-traditional repayment terms. Startups funded by CVF repay the loan amount along with a fixed, capped the percentage of revenue they generate.
Originally reported by TechCrunch. Read the full story at the original source.
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