How Astatine Scaled to €100M+ in Contracts Without Giving Up Equity

Challenge

• Scaling a business at Astatine’s pace created a clear and immediate challenge.
• Large infrastructure projects required significant upfront investment in labour, equipment, and delivery, while customer payment cycles meant revenue was realised later. This created a funding gap at the exact moment the business needed to move fastest.
• Traditional funding options were not aligned to this reality:

• Banks required years of trading history and predictable cashflow
• Funding was often too slow to match the pace of growth
• Equity funding would introduce dilution and reduce flexibility

• As Astatine continued to win larger contracts, the challenge became more critical:
• How do you fund growth at the same speed as opportunity without slowing down or giving up control?

Solution

• Financefair provided a revolving Line of Credit, designed specifically for scaling businesses with project-based cashflows.
• “Financefair were very reactive… and provided finance at times when we needed it.” — Tom Marren, CEO at Astatine.
• The facility was structured to align directly with receivables and project delivery timelines, enabling the business to:

• Access funding quickly when needed
• Repay as customer receipts were collected
• Bridge the gap between upfront delivery costs and customer payments
• Draw down and repay capital flexibly as cashflow evolved
• Continue scaling without relying on equity or restrictive lending structures

• As the business expanded, the facility continued to support new phases of growth, acting not as a one-off solution, but as an ongoing funding partner.
• Key features included:

• Advance rates of up to 90%
• Flexible drawdowns aligned to project cashflow
• Repayment directly from receivables
• A non-dilutive structure — no equity required