Uncapped has announced its acquisition of UK-based Sugar, a gaming and digital app flexible finance provider.

Sugar’s new brand name under which it will continue to trade is "Sugar powered by Uncapped".

Like-minded teams

With this acquisition, Uncapped has gained footing in the markets of gaming and apps with Sugar’s portfolio. Sugar itself, meanwhile, will gain expanding access to funding opportunities.

Sugar secured £1.5 million ($1.9 million) in pre-seed funding in late 2020 in a round led by Passion Capital.

"Uncapped exists to help founders win, so we are extremely excited to help more businesses access fast flexible finance through this acquisition," said Uncapped CEO Piotr Pisarz.

"In Sugar we’ve found a like-minded team with a complementary business model and an equal passion to help businesses grow."

The capital Uncapped offers to online businesses ranges from £10,000 to £10 million. The amount the company has acquired Sugar for is currently unknown.

"Partnering with the team at Uncapped makes huge strategic sense. We have made real progress in the games and app market to date and are very excited to work with the Uncapped team to fund more great companies," commented Sugar CEO Matt Frenchman.

Candy Crush creator King recently acquired the Sweden-based AI software company Peltarion.