It's tough to raise capital these days – VC wallets are tightening as many investors are opting for a wait-and-see approach. This makes it harder to land a deal and get more cash through the door. For entrepreneurs in need of financing for their companies, equity capital is still the most popular approach but harder to come by in an inflationary environment. However, dilution by selling ownership shares in your company for a part of future cash flows is not the only way to get capital. There's also debt, which comes in the form of bond issues or loans, a means of financing operations without dilution, as long as – again — you have the cash flow to pay back the loan. But today we're talking about another way of accessing capital – recurring revenue financing - so if there's cash flow coming in, this recurring revenue is made into a tradable asset that can be sold to investors. It's a dilution-free and debt-free form of financing, which I'm exploring in more detail with Michal Cieplinski, Chief Business Officer of Pipe and Farhan Lalj, Investor at Anthemis.