Business Optix needed a cash flow boost to help with their ambitious two-year growth plan. The business offers a cloud-based platform that enables organisations to run their core operations, grow the scale of their business and make transformational changes.
Ali Peerbhoy, CFO at the business had looked around the market for solutions after they became frustrated with the rigidity of the service their bank provided.By late 2017 Business Optix had spoken to a number of high street banks about securing funding to restructure the business and deliver an ambitious two year growth plan – they were frustrated by the rigidity of the products available and service. This was due to the business licencing their software on an annual basis and therefore having irregular cash flow – the majority of annual renewals take place from March to June. The banks couldn’t see past this and realise the strength and vision of the business.
Business Optix spoke to Nucleus Commercial Finance when they had struggled with more traditional lenders and were exploring other options in the market. Due to the personalised way Nucleus works and the time taken to understand each business, it was clear that Business Optix was a well run, structured and funded business. Approval for £50,000 of funding was secured for the business.
The funding enabled Business Optix to future proof the business following an MBO and ensure continued growth. It was also a kickstarter to realising their ambitious plan of doubling turnover in two years
BusinessOptix chose Nucleus because they were impressed by the fast turnaround and the level of service.
The loan will be used to increase the size of their team and help them double their turnover in two years.
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We have ambitious plans and working with Nucleus Commercial Finance is an integral part of that.