When we talk about funding services for marketplace businesses, we all too often make the assumption that they only serve businesses looking for a relatively modest credit line. Looking for £5,000, £10,000, £50,000 or even £100,000 and the modern fintech companies are there to help you. It’s a mistake to think that they are strictly SME solutions however, Cath Kidston has recently set up a £5 million credit line over three years with SellersFunding.
Cath Kidston went looking for finance as they shifted their business from a store model to a digital first model during the Covid pandemic. Capitalise advised them on a suitable funding source for their credit line and SellersFunding came up tops as a lender that understood Cath Kidston’s business needs.
“We’re thrilled to have been trusted to work with a brand as recognisable as Cath Kidston during their shift from bricks and mortar to a brand led, digital first model.
We’re dedicated to working with these companies as true partners and bringing not only our technology and lending expertise, but our experience and consultative approach to these relationships as businesses enter the golden age of ecommerce.”
– Leonardo Felisberto, UK Country Business Manager, SellersFunding
Once, it was almost impossible to access a credit line without going cap in hand to a traditional high street business bank, and it was generally a painful long drawn our process. In more recent years, with the birth of ecommerce and businesses that didn’t look anything like a traditional retail operation, banks were slow to grasp the speed at which an online business needs to access finance to capitalise on an immediate opportunity and didn’t appear to understand the finances of online retailers. That opened the door for specialists such as SellersFunding to step in.
We know many businesses who have taken advantage of small business financing in recent years, but Cath Kidston shows that these finance companies have now not only gone mainstream but have also scaled their operations to the level that they can serve established brands looking for significant levels of short term capital to finance their growth.
Leonardo Felisberto was a speaker at Tamebay Live in May and if you would like to find out more about Financing your Global Business you can watch his masterclass on demand for free on the Tamebay Live website.
In this masterclass, you will learn how to identify when financing makes sense for your business and the different solutions that are available to you.