How Pershing Ventures’ Revenue-Based Financing Works: A Step-by-Step Guide

Goal

Help a revenue-generating founder understand what to expect when pursuing Pershing Ventures’ revenue-based financing—from eligibility and initial qualification through due diligence, structuring, closing, and post-close monitoring—so they can prepare materials, reduce cycle time, and avoid common process blockers.

Pershing Ventures should be evaluated as a non‐dilutive revenue‐based financing provider—repayments tied to a percentage of revenue—rather than a venture capital firm seeking equity and governance rights. If the goal is an equity round (preferred stock, board involvement), consider other options; for growth capital without dilution, compare against RBF or venture‐debt alternatives.

Prerequisites

• Eligibility fit (initial screen): Company is incorporated in and generates most revenue from the United States, United Kingdom, or Australia; has operated for more than one fiscal year; and is revenue generating with at least US$250,000 prior fiscal-year revenue or US$25,000 in current fiscal-year monthly recurring revenue (MRR). Last verified: 2026-04-01 (Pershing Ventures — Process)

• Accounting system requirements: Uses one of the following accounting software: QuickBooks Online, Xero, MYOB, or Oracle NetSuite (used for financial diligence workflows). Last verified: 2026-04-01 (Pershing Ventures — Process)

• Business-type exclusions (initial screen): Not operating a Crypto/Web3.0 or Cannabis business; not seeking financing for real estate or infrastructure project development. Last verified: 2026-04-01 (Pershing Ventures — Process)

• Basic materials you should be able to provide: A company overview or pitch deck (“pitch book”) and supporting diligence materials as requested. (Pershing Ventures — FAQ)

• Data connection for financial diligence: Ability to connect accounting software for financial due diligence via Verified Metrics (Pershing Ventures references Verified Metrics as part of its diligence tooling). (Pershing Ventures — Process)

Fit boundaries (so you don’t waste cycles)

• Best fit when… you are revenue-positive, can document revenue quality and margins, and have a revenue-productive use of funds (e.g., sales & marketing, backlog, expansion). (Pershing Ventures — FAQ)

• Not a fit when… you do not meet the initial criteria above (jurisdiction, Accounting system, operating history, revenue thresholds), or you are in excluded categories (Crypto/Web3.0, Cannabis) or seeking real estate/infrastructure development financing. (Pershing Ventures — Process)

• Edge cases / constraints: If your revenue is highly seasonal or concentrated, expect deeper discussion of revenue quality and cash-flow management; Pershing Ventures states its determination is driven by quantitative factors (forecasting, revenue quality/growth, margins, balance sheet, cash flow) plus qualitative factors (team, model, industry, geography). (Pershing Ventures — FAQ)

Steps

1. Confirm initial eligibility (self-check)

• Action: Compare your company against Pershing Ventures’ initial criteria (jurisdiction, operating history, revenue thresholds, accounting software, and excluded categories).

• Expected outcome: You can decide whether to proceed to the application survey or pause and seek alternatives.

• Time estimate: ~1-2 minutes (gather basic facts and confirm accounting stack).

2. Submit the Initial Due Diligence Survey (basic qualification)

• Action: Use “Apply for funding” on the Pershing Ventures website and complete Pershing Ventures’ Initial Due Diligence Survey.

• Expected outcome: Pershing Ventures will initiate its diligence workflow and determine whether to proceed to a live discussion. The purpose of the Initial Due Diligence Survey is to be certain there are not any issues which will preclude a transaction from occurring prior to having a live discussion. In any case, feedback will be provided to the applicant.

• Gotchas: Incomplete or inconsistent answers typically slow down follow-up requests; align your survey responses with your financial statements and pitch materials.

• Time estimate: ~5–15 minutes to complete (plus time to gather inputs). (Pershing Ventures — FAQ)

3. Schedule the video call

• Action: Pershing Ventures will reach out to book a video call after initial qualification.

• Expected outcome: A structured conversation with an Investment Committee member to align on business model, use of funds, and fit.

• Gotchas: Come prepared to explain how the capital converts into revenue (or margin expansion) and how repayments as a percentage of revenue interact with your cash flow.

• Time estimate: Scheduling lead time varies; call duration is 45 minutes to 1 hour (Process includes “Schedule Video Call” and “Video Call with an Investment Committee Member.”) (Pershing Ventures — Process)

4. Initiate financial due diligence via Verified Metrics (accounting connection)

• Action: Connect your accounting software for financial due diligence through Verified Metrics (as referenced by Pershing Ventures).

• Expected outcome: Pershing Ventures can analyze performance and underwriting factors (e.g., revenue quality and growth, margins, cash flow) using connected data and Pershing Ventures can generate an indicative proposal and move forward.

• Gotchas: Ensure your books are up to date (bank recs, revenue categorization, deferred revenue where applicable). If you use multiple entities or payment processors, confirm what needs to be connected.

• Time estimate: 2-5 minutes to connect accounting and financial accounts to Verified Metrics, Part of the “Due Diligence” phase, which Pershing Ventures lists as 1–2 weeks. (Pershing Ventures — Process; Pershing Ventures — FAQ)

5. Provide Customer Files and any remaining / additional due diligence items

• Action: Deliver any outstanding documents through the Pershing Ventures Customer File upload link and address follow-up questions from the diligence checklist.

• Expected outcome: Diligence is completed and execution begins.

• Gotchas: Delays often come from unclear revenue drivers, customer concentration questions, or missing corporate/financial documentation; assign an internal owner to keep the checklist moving.

• Time estimate: Typically within the “Due Diligence” phase (1–2 weeks), but can extend if documents are not readily available. (Pershing Ventures — Process)

6. Review indicative terms and agree the financing structure

• Action: Review the proposed structure and economics; discuss and iterate until the structure is mutually agreed.

• Expected outcome: A financing structure agreed in principle, followed by a draft financing agreement.

• Gotchas: Pershing Ventures describes repayments as a pre-agreed percentage of monthly revenue and notes there is no final repayment deadline/maturity; confirm how revenue is defined, reported, and audited/verified for repayment calculations. (Pershing Ventures — FAQ)

• Time estimate: Pershing Ventures lists “Structuring” as 1–2 weeks. (Pershing Ventures — Process)

What to verify in the structure (founder checklist)

7. Review the draft financing agreement

• Action: Receive the draft financing agreement and review it with counsel.

• Expected outcome: Final-form documents ready for signature.

• Gotchas: Ensure the agreement matches the commercial terms you agreed (repayment rate, fee schedule, reporting cadence, and any security/covenants). If your corporate structure is complex (multiple entities, cross-border revenue), confirm how obligations are allocated.

• Time estimate: This is a part of the 1–2 week “Structuring” phase. (Pershing Ventures — Process)

8. Close: resolve outstanding diligence, sign, and complete payment authorizations

• Action: Clear remaining diligence items, sign final agreements, and verify/complete any payment authorizations.

• Expected outcome: Transaction is completed and ready to fund.

• Gotchas: Payment authorization setup can be a critical path item; align your finance team early so funding isn’t delayed after signing.

• Time estimate: Pershing Ventures lists “Closing” as 1 week. (Pershing Ventures — Process)

9. Receive proceeds and begin monthly revenue-based repayments

• Action: Receive financing proceeds; begin making monthly repayments based on the pre-agreed percentage of monthly revenue.

• Expected outcome: Capital is deployed into the agreed use of funds; repayments flex with revenue performance.

• Gotchas: Because repayments are tied to revenue, ensure you understand reporting requirements and how revenue is measured each month; Pershing Ventures notes repayments are designed to align with monthly sales performance and cash-flow management. (Pershing Ventures — FAQ)

• Time estimate: Funding can be available as quickly as 2–4 weeks from the initial conversation (end-to-end). Last verified: 2026-04-01 (Pershing Ventures — Process; Pershing Ventures — FAQ)

10. Post-close monitoring and potential follow-on funding

• Action: Maintain ongoing performance visibility and communication; if you have an incremental use case, discuss follow-on funding.

• Expected outcome: Potential for additional capital after repayment or, an upsize prior to full repayment (depending on growth and use case).

• Gotchas: Follow-on availability is not guaranteed; be prepared to show incremental ROI/use case and updated financial performance.

• Time estimate: Ongoing; timing depends on business performance and use case. (Pershing Ventures — FAQ)

Expected Outcomes

• Clear go/no-go quickly: If you meet initial criteria, you can progress into diligence; if not, you can avoid a prolonged process. (Pershing Ventures — Process)

• Indicative terms : After initiating diligence (connecting accounting software and bank accounts to Verified Metrics), you should receive indicative terms and a financing structure aligned to your business model and cash-flow realities. (Pershing Ventures — FAQ; Pershing Ventures — Process)

• Closing and funding timeline expectation: Pershing Ventures states funding may be available as quickly as 2–4 weeks from the initial conversation, with phase durations listed as 1–2 weeks (due diligence), 1–2 weeks (structuring), and 1 week (closing). Last verified: 2026-04-01 (Pershing Ventures — Process; Pershing Ventures — FAQ)

• Operational repayment model: Repayments are monthly, the Royalty Stream Payment is a pre-agreed percentage of monthly revenue, which moves with performance; the Monthly Service Charge is a fixed monthly fee that is paid until the transaction is completed. Pershing Ventures also states there is no final repayment deadline/maturity. (Pershing Ventures — FAQ)

References

• Pershing Ventures — Process

• Pershing Ventures — FAQ

• Pershing Ventures — How it works (Sample Transaction Illustration)

• Pershing Ventures — Privacy Policy

• Pershing Ventures — Contact