Using invoicing financing to triple revenue in first year and on track to double for the current year.
A growing engineering company was doing $4M revenue and needed additional working capital to take on more projects from large-sized buyers.
Finaqe advised company on obtaining additional funding for their growing projects, and arranged invoice financing against their big buyers. We also also closed their working capital gap, as good repayment conduct coupled with early repayments ensured company was able to get advances from funders in as fast one day compared to the 120 days normally extended to buyers.
The reduction in debtors' turnaround days greatly accelerated their revenue growth, allowing the borrower to take on larger projects with their existing big buyers while successfully tendering for similar-sized large buyers as a result of their increasing track record. Through Finaqe, company tripled its revenue in 1 year to $12M and poised to double it to $24M for the current year.
Accelerated increase in their turnover — Raising additional working capital allowed the company to take on more projects from large-sized buyers.
Bypassing traditional financing barriers — Raising additional working capital allowed the company to take on more projects from large-sized buyers.
Boosting their balance sheet - with strong cash balances from receivables financing meant the company was able to obtain trade facilities to strengthen their supplier financing options.
Invoicing financing is an powerful and effective tool for freeing up locked-up working capital that you can use to facilitate rapid growth.
Get a free consultation with us and get a better understanding of how you can use these funding options to your advantage. We will work with you to customize a suitable solution for your company’s specific challenges.