Case-by-case eligibility
The business, jurisdictions, product, counterparties, and acquisition methods must be lawful and reviewable.
Non-dilutive capital for lawful adult and age-restricted digital categories with measurable customer value, repeat behavior, and payback.
Some lawful digital businesses have strong acquisition economics but limited access to conventional growth capital because of category, platform, payment, or advertising restrictions. 23 Broadway evaluates the measurable acquisition program itself, together with those operating constraints.
The category does not remove the need for disciplined underwriting. A financeable program still requires operating history, reliable customer and revenue data, understandable variable costs, repeatable acquisition, and a clear path from spend to contribution.
The business, jurisdictions, product, counterparties, and acquisition methods must be lawful and reviewable.
Acquisition source, conversion, repeat behavior, revenue, variable costs, and contribution can be connected.
The operator has the systems, safeguards, and channel access required to deploy incremental spend.
Historical spend, customer acquisition cost, conversion, account stability, channel concentration, and the ability to keep acquiring within platform rules.
Purchase or subscription behavior, retention, refunds, chargebacks, payment costs, platform fees, and net contribution by cohort.
Jurisdictions, age controls, product requirements, content or service policies, and other material legal or regulatory considerations.
Advertising access, payment processing, vendor concentration, account continuity, and contingency planning.
Each opportunity is reviewed individually. The core fit is an operating digital business with reliable financial and customer data, a repeatable acquisition engine, visible payback, and a clear plan for incremental spend. Financing is not available for unlawful activity.
Lawful adult and other age-restricted digital businesses may be considered case by case. Eligibility depends on the business model, jurisdictions, compliance position, counterparties, data, and acquisition economics.
No. Operators remain responsible for complying with applicable law and platform policies. Financing does not change or override those requirements.
Traditional providers may exclude them because of category policies, perceived regulatory risk, payment constraints, or limited familiarity. 23 Broadway still applies rigorous underwriting to the business and the proposed acquisition program.
Yes. The operator retains ownership and control of campaigns, creative, media buying, and advertising accounts.
Start with the business model, jurisdictions, acquisition history, customer economics, platform constraints, and deployment plan.
Discuss financing