Solving personal credit issues and leaping forward with UK expansion
Our client has developed a simple yet effective concept recommended by the likes of Martin Lewis’ Money Saving Expert.com forconsumers with poor credit scores to quickly re-build their payment history.
This fully automated online package enables consumers from 18 year olds who have never had the opportunity to borrow to those who have had problems with payments in the past tobenefit by improving their scores with the credit reference agencies.
When our client approached us, their platform was fully tested and operational; they had the approval of all three large Credit Reference Agencies as well as the Financial Conduct Authority and all start-up costs had been covered by the founders. What was needed was funding to drive future profitability and growth.
The shareholders and management recognised the need for outside help and approached us. With a platform capable of supporting 1 million client accounts, and a simple yet clever solution to a common problem, we could see the terrific potential return on investment for our investors.
We delivered a number of investor meetings quickly, the first within one day of issuing our Stop Press. Three investors made serious offers of funding and one proposal clearly stood out – primarily because the individual investor has expertise in the sector and is keen and willing to commit his time to the business, as well as his capital. It really is a great match.
Funds are being used to employ a specialist PR and marketing agency to build the brand and drive low-cost, direct customer referrals. We are thrilled that our client is now on track to meet their targets for a full-scale expansion in the UK and overseas.
B&Y Associate, Paul Rayner comments…”This is a fabulous business – the product itself solves a huge problem for many people trapped in the so-called bad credit spiral. It is simple, but clever. I am thrilled that B&Y could help our client expand this much needed platform for consumers and we are delighted to have helped bring together a great client and their perfect investor.”