The quick and easy access to capital gave us an edge over our competitors. We saved weeks of time and effort and invested that energy into growing our business.
Jim Rakesh
Founder and CEO, ROX Trading & Systems Private Ltd
Rox Technology & Solution is a Chennai-based IT solutions enterprise working with companies spanning various industries and some Fortune 1000 companies too. With an experience of over 15 years, Rox Technology & Solutions has been a leading provider of IT solutions like IT consulting, enterprise computing, network services, and end-user computing, among many others. With the perfect blend of strategic designs using proven technologies and world-class support, Rox creates effective IT solutions for its clients.
Quick Facts
Funding of Rs 2 Cr in under one week
Team onboarded under 48 hours
Onboarding happened 100% digitally
Its innovative and creative services helped them become an IBM business partner and has now become a well-respected name in the IT sector. Driven by a customer-first policy, the company is constantly trying to add value to its existing clients and is on the mission to become the best IT integrator.
This ambition requires the company to seek quick and easy access to capital.
The Challenge
Rox Technology & Solutions experienced a minor setback in 2020 during the onset of the coronavirus pandemic. The company faced a working capital shortage and required Rs 2 crore for its immediate expansion plans. Here’s how Rox Technology found itself in a bundle:
- The company hit the credit limit threshold with its banking partner, making access to funds challenging.
- The process of due diligence and aligning with another banking partner seemed like an added hassle that would have taken unusually long.
- The lack of an in-house finance professional added to the company’s woes since there was no one who understood the debt market.
This was when Rox Technology & Solutions approached CredAvenue.
The Solution
A business expert from CredAvenue got in touch with the company to understand their needs.
- Rox Technology & Solutions was enrolled on the CredAvenue digital co-lending marketplace in under 48 hours.
- The paperwork and the onboarding happened 100% digitally.
- The company got access to multiple deals from various investors and could assess each deal based on their requirements.
CredAvenue’s team helped Rox Technology & Solutions get the best deal for them.
The Result
The highlight of Rox Technology & Solutions’ journey on CredAvenue was securing funding of Rs 2 crore in under one week.
- CredAvenue’s unified multi-lender marketplace allowed the company to compare deals and reduce the cost of securing funds.
- The company secured a deal at 11-12% p.a. while private financiers were charging 15-20% p.a.
While our customers already speak highly of the platform, we are innovating every day to enhance their experience multifold via technology.
Looking to bring innovation to your supply chain? Write to us at credscf@credavenue.com or download a copy of our brochure here.