By Riley Kaminer
Juan Ignacio Garcia Braschi knew Boopos needed a bigger home. The lending platform, which specialized in financing e-commerce and SaaS businesses, had proven its model but faced a common challenge: scaling without deeper capital reserves.
“We came to the realization that it was really hard to scale without having access to bigger pools of funding,” Boopos founder and CEO Garcia Braschi [pictured above] told Refresh Miami. “The VCs that invested in our company had limited dry powder, and it’s really hard to attract new VCs to a lending business.”
Rather than continuing to battle for funding, Garcia Braschi took a strategic turn last summer: cutting costs, ensuring profitability, and preparing the company for acquisition. The decision ultimately led him to Founderpath, a lending platform with a strong track record of supporting SaaS companies and a remote-first company headquartered in Austin. The acquisition process was swift. “We started talking early this year, and it took us about a month and a half to decide on the next steps,” he said.
For Founderpath CEO Nathan Latka, acquiring Miami-based Boopos was a natural move. Latka, an entrepreneur who built and sold his first software company in 2015, launched Founderpath in response to his own experience raising too much equity and making less on exit than he should have. He saw an opportunity to provide non-dilutive funding to founders who wanted to scale without giving up ownership.
“We’ve been very patient at Founderpath,” Latka explained. “Others have chased growth at all costs and are no longer lending or have weak balance sheets. We have a fortress balance sheet. We’ve deployed nearly $200 million into about 550 software companies with a team of just 10 people.”
Boopos’ focus on SaaS M&A financing made it an attractive target. “If you look at who is lending in this space, you’ve got the Pipes of the world, the CapChases of the world,” Garcia Braschi noted. “These players either don’t understand the complexity of M&A lending or don’t have the firepower to take over. Founderpath checked all the boxes.”
As for the deal itself, Founderpath shared that it is an eight-figure acquisition but did not provide further details.
With the deal set to close this month, Boopos will continue servicing its existing portfolio while directing new originations to Founderpath’s platform. Garcia Braschi and three key team members will stay on through the transition to ensure a smooth integration before shifting their focus to a new venture: L40, a boutique M&A advisory firm specializing in SaaS deals across the U.S. and Europe.
Latka sees Boopos as a key piece in Founderpath’s broader vision. “As AI tools proliferate, we’re going to see more software startups and a lot more M&A activity – smaller companies buying and selling to each other,” he said. “Bigger credit funds want billion-dollar deals, but there will be thousands of SaaS companies being acquired for $5 million, $10 million. Founderpath wants to be the funding source for those founders over the next decade.”
The transaction is expected to finalize by mid-month, pending board approval. Both companies are aligned on making the transition seamless and maximizing opportunities in the growing SaaS M&A space.
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