Peer to Peer Fundraising Software Company Invests for Future Growth
Sixteen years ago, BlueSky Collaborative was founded on the belief that Peer to Peer fundraising was the best way to empower communities to drive impact and make an unprecedented change. That belief holds as their business and role have expanded. Owner Syam Buradagunta knows a thing or two about growth. He started the company as a way for gala’s, DIY campaigns and nonprofits to conduct peer to peer fundraising on a custom branded platform.
After almost two decades, BlueSky continues to provide the very best service to empower the initiatives of their clients. There are many tech providers, features, percentages, but what has made Blue Sky different through the years is their commitment to collaborate with clients on a system that puts them first. That reputation has earned them substantial growth over the years.
As the company increased the client base and found itself immersed in a more competitive industry of Peer to Peer charity software platforms, it was time to invest and move the business forward. While the company was ready to invest in its growth to stay competitive, the owner was faced with a cash flow issue because of slow-paying customers – a common dilemma which affects many small business owners. Their service is entirely subscription fee-based. With the influx of clients, the gradual increase in delay of receivables became bigger and bigger. This gap in cash flow was a problem for the company when the time came to consider how to expand BlueSky to accommodate more clients and offer a more competitive product.
The cash flow had been tight. Receivables were coming in later and later.
Challenges: When Cash Flow Affects Growth
Bridge Gap in Receivables: When payments are delayed it can tie up extra cash that could go towards expansion and investments. Reliant Funding covers that gap so you can focus on the future of your business.
Business Expansion: You know when the timing is right to make moves. If your gearing up to expand, an extra influx of cash to invest when the timing is perfect is crucial. You don’t have to wait to obtain working capital when our resources can put the buying power back into your hands within hours.
Diversify Offerings: Delays in receivables shouldn’t slow you down from launching new products. You have a business to run, and lack of cash flow shouldn’t stop it. A short-term financing solution from Reliant makes sure it doesn’t.
We have costs, people need to get paid, and that’s why we called Reliant. We needed to cover overhead.
Why Reliant Funding
Cash flow or lack thereof can make or break a small business. The ability to easily access cash quickly is a powerful tool that can mean the difference between a missed opportunity or striking when the iron is hot. It’s your business. You should be able to choose when the right time to invest in it is.
The more clients BlueSky took on, the more they experienced cash flow issues due to late payments. So, while the workload increased, so did the costs of doing business. They plan to use a quick funding solution from Reliant to cover expenses and also invest in their updated software and keep up with the client expansion.
Reliant Funding is proud to help small businesses who are ready to expand but also face common cash flow obstacles. Now, with the funding from Reliant, BlueSky expects to see a significant return on investment. They plan to make investments in infrastructure and upgrade their web server as well. In doing so, the investment will allow them to grow and accommodate their customer base significantly over the next five years. That’s the buying power and value of short-term funding from Reliant Funding.
The process was relatively easy. My rep was excellent, and I just felt comfortable with the process.
Every business is unique, which is why we’ve developed the fastest, simplest and most flexible business funding solution available in the market today. If you recognise an exciting opportunity for your existing small business but lack the capital you need to execute on it, we have dedicated account representatives waiting to assist. Learn more about how we can help your business by connecting with us today.
The best interests and future success of the businesses we work with are always top of mind.
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