Tangible, a fintech platform focused on helping hardtech companies access and manage structured debt financing, has raised a $4.3 million seed round as it looks to modernise how capital-intensive businesses fund growth.
The round was led by Pale Blue Dot, with participation from MMC, Future Positive Capital, Unruly, SDAC, Prototype Capital and Aperture. The funding will be used to scale Tangible’s team and deepen automation across its platform.
Hardtech companies, spanning sectors such as energy, transport, advanced manufacturing and compute infrastructure, are increasingly seen as central to tackling some of the biggest macroeconomic challenges of the coming decades. BlackRock estimates that $68 trillion of new infrastructure investment will be required by 2040 to meet global demand.
Yet despite renewed interest in physical innovation, financing remains a major bottleneck. Traditional venture capital models often struggle to support asset-heavy businesses, which typically require large amounts of upfront capital. As a result, many early-stage hardtech companies rely on expensive equity funding to finance capital expenditure, increasing dilution and, in some cases, threatening long-term viability.
At the same time, private credit, now a $3.5 trillion market, is increasingly well positioned to meet this demand. However, deploying debt capital efficiently into hardtech remains complex and resource-intensive, particularly for lenders reliant on bespoke documentation and manual processes.
Tangible was founded to address this gap. Its AI-powered platform standardises the data, documentation and ongoing reporting required by lenders, reducing underwriting time and costs while enabling founders to run structured debt facilities without building in-house finance teams.
Hampus Jakobson, general partner at Pale Blue Dot, said: “Most of the innovations shaping the future, from vehicles and data centres to robotics, are fundamentally physical, and they shouldn’t be financed by venture equity alone. Tangible opens up new financing options for hardtech businesses, and we strongly believe in the team’s vision to bridge this structural gap.”
William Godfrey, co-founder and chief executive of Tangible, said demand for physical assets was accelerating as governments and businesses push reindustrialisation, energy security and technological sovereignty. “As hardtech companies scale at speed, investors need modern infrastructure to deploy capital just as fast,” he said.
“Legacy processes based on bespoke documentation and manual coordination no longer cut it. Tangible provides the financial infrastructure that makes hardtech easier to diligence for institutional credit, allowing companies to raise asset-backed financing faster and with less friction.”
The company said the new funding would support the build-out of automation across collaboration, diligence and reporting workflows, helping to reduce transaction costs and shorten time-to-close for both founders and lenders.
For hardtech firms facing mounting capital pressures, Tangible is positioning debt as a viable alternative to either heavy dilution, or failure.
