Kollect (www.kollect.ie), a hugely innovative subscription based on-demand refuse collection company, has steadily grown their business in the South East of Ireland over 36 months.
They are now in a phase of transformational growth, expanding their service to multiple cities across Ireland.
The core challenge for Kollect was access to fast and flexible working capital finance to fund ambitious growth plans. Traditional funding options just did not work for them.
“Flexibility and quick decision making is essential in business, particularly at a time of rapid growth. Our interaction with Financefair gave us a solution that adapts as our business expands into the future.”
Kollect is an on-demand, ethical, waste removal and home services tech platform that places jobs with approved suppliers and provides a speedy, seamless and transparent user experience in industries that have lacked digital solutions.
Kollect needed access to working capital to drive their business growth. However, the only “asset” the company had was its regular customers.
How could the company leverage on this asset to fund their business growth when this “asset” is not recognised by “traditional funders”?
Financefair enabled Kollect to leverage the value of their customers via their predictable future subscription income to release growth capital for their business.
Using our Revenue Based Finance solution, Kollect is able to release up to 70% of the value of 3 months future subscriptions in advance to fund business expansion on a recurring basis.
As each month settles, a new month is added allowing Kollect immediate leverage on the new “asset”.
Kollect needed access to working capital to drive their business growth. However, the only “asset” the company had was its regular customers.
How could the company leverage on this asset to fund their business growth when this “asset” is not recognised by “traditional funders”?
Financefair enabled Kollect to leverage the value of their customers via their predictable future subscription income to release growth capital for their business.
Using our Revenue Based Finance solution, Kollect is able to release up to 70% of the value of 3 months future subscriptions in advance to fund business expansion on a recurring basis.
As each month settles, a new month is added allowing Kollect immediate leverage on the new “asset”.
Kollect used this upfront growth funding to successfully scale their business nationally and acquire thousands of new customers.
As Kollect builds a track record on the platform, investor demand increases leading to a lower cost of finance and a higher level of available funding – the facility grows as they grow.
Being able to access a wider pool of Funders, not just one financial provider, delivered significant benefits to their business, specifically:
• They could leverage their subscription income to release growth capital.
• Their working capital funding grows directly in line with their business.
• Gained assess to a diversified investor risk appetite.
• This model recognises the only “asset” available to a subscription income business.
Trading their Recurring Revenue is a powerful enabler for growth. Armed with this knowledge, Kollect has the confidence to grow their business in Ireland.
Get FundedKollect used this upfront growth funding to successfully scale their business nationally and acquire thousands of new customers.
As Kollect builds a track record on the platform, investor demand increases leading to a lower cost of finance and a higher level of available funding – the facility grows as they grow.
Being able to access a wider pool of Funders, not just one financial provider, delivered significant benefits to their business, specifically:
• They could leverage their subscription income to release growth capital.
• Their working capital funding grows directly in line with their business.
• Gained assess to a diversified investor risk appetite.
• This model recognises the only “asset” available to a subscription income business.
Trading their Recurring Revenue is a powerful enabler for growth. Armed with this knowledge, Kollect has the confidence to grow their business in Ireland.
Get FundedLearn a little more about us and our solutions here
Or apply to see how much funding you could raise in as little as 24 hours here
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