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Case study: Invoice finance enables new hires

IT Software Consultancy

Nick Richardson in case study
Dec 06

Company Name: Nuvem 9
Client Description: IT Consultancy
Location: Northern Ireland
Required Amount: £200,000
Loan Type: Invoice Financing
Lender: Funding Invoice
Time to Approve: 5 days

 

“It can be a draining process talking to many different lenders - with Capitalise, their support team understood my needs quickly, and made the process so much easier.

I would absolutely recommend other professional firms to use Capitalise - contacting many different lenders is a complete nightmare, and will never give you the great market access of Capitalise.” 


Niall McGinnity 
Niall McGinnity headshot
nuvem9 logo

 

What was the challenge?

Nuvem 9’s client are an IT consultancy that are growing very quickly, especially with some of their larger accounts. These high-value projects require large teams of engineers and project managers to focus for several months on delivering the client’s requirements. The problem was that these projects’ invoices are only raised several months after the work has begun, resulting in a significant working capital shortfall due to the payroll of the projects’ large teams.

The IT group had utilised their own bank for overdraft and term loan financing but were seeking a much more flexible facility. The businesses wanted to leverage their growing number of work-in-progress projects and access the facility as needed it.  

 

Result

Nuvem 9 had recently become a partner of Capitalise - after learning of their client’s limited options from their bank, their Managing Director, Niall McGinnity, spoke with Capitalise’s team to see if we could help.

“We used Capitalise to identify the right funding solutions in minutes - we submitted an application to several working capital providers, and were well-informed of the process along the way. Within 5 days of applying, our submission was approved by Funding Invoice, and our client received the funds within a month after first using Capitalise.

Our client is delighted about how Capitalise has helped and they have since used the capital to significantly expand their team.”

 

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