A tech startup was seeing high demand for its products in the Middle East.
They were in the black with nearly £4 million in revenues and demonstrable strong growth.
But because they had customers in the Middle East, UK banks became unwilling to offer them a full range of services.
To support their expansion into lucrative overseas markets, the startup needed to access financing to replace the overdraft facilities UK banks would not provide.
The business owners wanted to get this funding without giving away equity.
We initially sourced £600k of revolving credit secured against the company’s trade debtors. By securing this against trade debts the company directors did not have to provide personal guarantees nor be locked into rigid invoice finance terms.
After 3 months of strong performance, the lender expanded the credit to £1 million. This extra funding allowed the company to source a new warehouse for their expanding business. However, the site needed new equipment and reliable air conditioning for the servers.
So we additionally sourced four offers from three lenders, from which the business took £389,000 at 7.4% over five years through a bespoke asset finance fitout facility.
In the space of a few years, we helped their turnover grow to around £8 million.
This wasn't the only time we supported Secure Logiq, they also chose Risecap when they needed funding during the pandemic to protect their operations from supply chain disruptions. Read more >
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25 Green Street London W1K 7AX
Risecap Ltd Data Protection Number ZA553906. The registered address is 85 Great Portland Street, London, England, W1W 7LT. Risecap is a credit broker and not a lender.
Copyright © 2022 Risecap. All rights reserved.
