Why am I using the credit bureau to expand my launcher – Referus


When it arrives in funding, beginners and established organizations will have very different experiences.

Traditional financial support may not always be available to the most experienced beginners, and yet, it often depends on the founder’s financial image and the existing income of their company. While large companies may turn to banks and other financial institutions, new founders often have to turn to other sources of revenue to grow their companies.

At my company, I decided to look for other ways to earn money to increase performance and increase the roadmap for our product. To accelerate growth, I decided to increase the small amount of debt in line with a large, revolving credit institution.

Here’s how and why I use the credit bureau to grow my company.

Increasing the debt area

To get things started, I went to a small lender who was able to lend me $ 3 million.

Banks are often unable to provide credit line to startups or small businesses, especially those that do not have years of operating history, given their heritage approach in writing.

It was therefore clear to us that we needed to provide our customers with credit lines. Our credit bureau allows us to extend the credit lines to our customers, increase the supply of our products faster, and integrate that debt into our portfolio in a way that minimizes long-term financial costs, making sense for our business. .

To increase our donations, I switched to alternative financing: In October 2021, we closed the $ 77 million funding cycle, of which $ 75 million was a circulating credit facility and the remaining balance. Later this year, we will complete the acquisition of stock to improve our technology and product road map..

How we did it

In our business model, expanding the credit space to finance all of our clients’ spending makes great sense.