Mobile App Developer Company – Financing International Growth
In less than four years, Aneesh Varma and Manav Gupta’s App development company FabriQate has established a commanding presence in the mobile Internet space and continues to push the boundaries of innovation in mobile technology. The London headquartered creative mobile application developer was founded in 2009 and grew rapidly to establish offices in Guangzhou, Mumbai, and Hong Kong.
They execute innovative and creative mobile ideas to help clients realise their mobile app development goals on time, within budget, for everything from to startups to Fortune 500 customers. FabriQate has achieved this extraordinary success by pursuing a new operating model: a creative studio merged with an engineering lab.
As a successful international technology agency, FabriQate is continuing to ambitiously develop its client base in fast growing and expanding markets. This type of strategy requires cash to fund investment and labour costs, as well as an efficient way to draw down on-demand funding. The challenge for them was that software and apps are digital products – not something that banks are able or willing to finance, due to the lack of physical collateral. Given Varma’s expertise in finance he proactively sought out a flexible and efficient way to free up cash to fund further global growth.
The Marketinvoice Solution
Given their strong client relationships with large corporate end debtors, FabriQate was well suited to MarketInvoice’s online marketplace. Their invoices were attractive to the institutional investors on MarketInvoice, given the strength of their clients’ balance sheets. FabriQate posted selected invoices for sale, immediately obtaining advances of 85% of invoice face value at a discount fee of just 1% for 30 days. Subsequent auctions have seen advance rates increase up to 90%.
As buyers on MarketInvoice are sophisticated global investors, they understand technology and international business and are willing to fund invoices for services provided outside of the UK. This is just one of the many ways in which MarketInvoice distinguishes itself from traditional funding providers and positions itself as a disruptive innovation in the field of invoice finance.
Now that MarketInvoice has solved FabriQate’s financing needs the agency is better positioned to exploit its expert knowledge over their competition in order to provide cost-effective solutions for clients looking to tap local markets and pursue revenue channels through mobile applications.