Tangible has secured a $4.3 million seed round to modernise how hardtech companies access and manage debt. The round was led by Pale Blue Dot, with participation from MMC, Future Positive Capital, Unruly, SDAC, Prototype Capital, and Aperture.
As per a discussion with TFN, Tangible stated that it has raised a total of $8 million in funding, including grants. However, the company did not reveal its valuation.
The funds will be used to expand its team and develop its existing products to reduce transaction costs and accelerate time-to-close for founders and lenders.
Pain point that Tangible addresses
The scale of global infrastructure needs is staggering. BlackRock estimates that by 2040, the world will require $68 trillion in fresh investment across energy systems, transport networks, telecom infrastructure, and compute capacity. Hardtech companies sit at the centre of this transformation, powering the energy transition, industrial revival, and the next wave of computational buildout.
Yet their funding path rarely fits the traditional venture capital mould. Hardware-heavy businesses must raise large sums before they look “institutional-ready,” forcing them to rely on costly equity to cover capex. This slows rollouts, compounds dilution, and, in some cases, pushes promising teams to the brink before their technology ever hits scale.
Meanwhile, private credit, now a $3.5 trillion market, is primed to step in. But lenders can only meet demand if they dramatically improve the efficiency of how they deploy capital into these asset-heavy categories.
Why isn’t traditional debt set up for hardtech?
In the real world, hard asset companies need substantial financing long before they mature into stable borrowers. Lenders, however, require structured data, consistent documentation, and ongoing reporting before they can underwrite debt at scale.
Most early hardtech companies simply don’t have the specialised finance teams required to meet these expectations. They finance physical assets with equity, not because it’s ideal, but because debt feels inaccessible. This cycle slows growth and erodes competitiveness.
Yet the strongest hardtech companies prove that capital intensity can be an advantage when paired with the right financing infrastructure. They grow faster, deploy more efficiently, and maintain ownership, but only when structured debt is part of the stack. This is where Tangible, founded by Will Godfrey and Sebastian Abdy Saboune, aims to make a difference.
Competitive landscape
Detailing about competition to TFN, the company stated, “Lots of interesting platforms like our friends at Crux, or phosphor, who are mostly looking for project finance and tax credits. Structured finance is a multi-trillion-dollar industry with a lot of nuance on projects.”
What are the diversity statistics?
As per the information shared by the company, they have “1 female founder of 3 and 2 from minorities. There is a 40:60% female to male ratio.”
Building the financial plumbing for the physical economy
Tangible’s platform and finance specialists standardise the information lenders need, from diligence-ready data to documentation and recurring reporting. By removing friction from underwriting, the company makes it easier for lenders to finance earlier and at scale.
For founders, the platform acts as a structured finance partner, enabling them to operate debt facilities without building an internal team. This opens the door to faster and cheaper financing, reducing reliance on equity and giving companies a realistic path to expansion without sacrificing ownership.
Tangible is positioning itself as the missing financial layer that can match the world’s urgent demand for new infrastructure with the capital required to fund it.
“It is clear that most of the innovations shaping the future – from vehicles and data centres to robotics – are fundamentally physical. And, to enable efficient innovation, they should not be financed by venture equity alone,” said Hampus Jakobson, General Partner at Pale Blue Dot. “Tangible’s solution opens up financing options for hard tech businesses, and we believe strongly in Will, Seb, and Ash’s vision to accelerate growth by bridging this financing gap.”
“Reindustrialisation, energy security, and the race for technological sovereignty in computing are driving unprecedented demand for physical assets. As hardtech companies scale at speed, investors need modern infrastructure to deploy capital just as fast. And legacy processes that rely on bespoke documentation and manual coordination no longer cut it, said William Godfrey, Co-Founder & CEO, Tangible.
