Riding Unicorns: Venture Capital | Entrepreneurship | Technology · Riding Unicorns Productions

Building the capital operating system for fast-growing tech companies with Paul Becker, Co-Founder & CEO of re:cap

October 29, 2025·51 min·2 clips

Paul says re:cap once saw revenue fall while gross profit increased because it changed to higher-quality revenue.

1. Riding Unicorns interviews Paul Becker about building re:cap's capital operating system for fast-growing tech companies. 2. Paul Becker is the co-founder and CEO of re:cap, and Dan hosts the discussion because he presses on product, metrics, and scaling. 3. The episode asks how a Berlin fintech moved from due diligence software to CapitalOS, financing, and financial decision support on one platform. 4. Paul says re:cap is headquartered in Berlin and has been on the market for roughly three years. 5. He describes the main product as CapitalOS for C to Series B companies that need financial visibility, forecasting, and financing. 6. The original idea in mid-2020 was due diligence software built around cloud enterprise data and APIs. 7. Paul says the team wanted to replace manual work in data rooms, PDFs, and Excel spreadsheets with more automated financial decisions. 8. He says the first idea did not find a paying customer quickly enough. 9. The pivot was to use the product internally to deploy capital to companies. 10. re:cap then moved into revenue-based finance in 2021 and later added intelligence features. 11. Paul says the platform now supports some companies that connect data, get analysis, and use it without drawing financing. 12. He says the funding side remains the key growth driver and revenue contributor today. 13. Paul says his startup path was not driven by a single epiphany and began through university, an investing club, and side projects in fintech. 14. He names Liquid as the first company he co-founded and says it grew into a robo-advisor managing roughly 4 billion euros. 15. He says working with his co-founders for almost 15 years and even sharing an apartment for seven years shaped the team dynamic. 16. Paul says he prefers grit and hunger over experience, but also wants founders to show self-reflection about what they can and cannot do. 17. He says revenue and gross margin are the key figures he tracks, especially after re:cap changed its revenue model and saw revenue fall while gross profit rose. 18. He argues that investors' priorities changed sharply over the past three years and that inflated revenue with low gross margin is not a model he wants. 19. The interview is reflective and practical, with Dan asking detailed follow-ups and Paul answering in a measured, candid tone. 20. People building fintech, B2B SaaS, or capital-efficient startups would likely find this useful, while listeners wanting product-only detail may skip it.

As heard by us

A grounded founder conversation about capital, focus, and the economics under the pitch.

Paul Becker frames Recap and CapitalOS as a single place for early-stage tech companies to track finances, test scenarios, and line up financing.

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Why you'd press play

A founder-led look at Recap, the Berlin fintech behind CapitalOS, where early-stage tech companies can understand their finances, forecast scenarios, and get financing on the same platform.

Read the full recommendation in PlayNext →

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