‍

- BestCompany explored financing to grow their SaaS business

- In 2023, they took $1M of financing from Efficient Capital Labs

- This enabled them to finance growth until acquisition

‍

BestCompany: Empowering consumers to make the best decisions

BestCompany.Com is a dynamic business dedicated to empowering consumers to make informed purchasing decisions while enabling businesses to enhance their brand reputation, gain valuable competitive insights, and effectively convert prospects into customers. 

Founded in 2011, BestCompany.Com emerged from a realization of a prevalent industry problem: the lack of trustworthiness in existing review platforms due to fake reviews and the practice of charging companies to maintain positive ratings. BestCompany.Com operates on two fronts: a steady-state service side focused on buying and selling leads, and a Software as a Service (SaaS) side, which they were actively developing.

‍

The Need for Capital: Financing Growth in a New Business Segment

In mid-2023, BestCompany.Com sought financing to fuel the growth of their SaaS segment, recognizing the potential for expansion and innovation in this area of their business.

‍

Discovery of Revenue-Based Financing

The leadership team at BestCompany.Com learned about revenue-based financing through their investment banker, who highlighted its benefits as a viable funding option for their growth plans.

‍

Considerations and Alternatives

BestCompany.Com, being 100% founder-owned, preferred to retain equity in their business. They had previously leveraged Small Business Administration (SBA) loans and had started contemplating an equity raise. In their evaluation process, they also considered two other revenue-based financing providers before ultimately selecting Efficient Capital Labs.

‍

Efficient Capital Labs’ Revenue-Based Finance Solution

In 2023, BestCompany.Com secured two financings from Efficient Capital Labs totaling $1 million USD. Landon Taylor, CEO of BestCompany.Com, described the financing process as "awesome" and "super quick," emphasizing the seamless document submission, financial review, and prompt funding. Taylor noted that the process for obtaining the second tranche of financing was equally efficient, reflecting the reliability and speed of Efficient Capital Labs' services.

Efficient Capital Labs offers a tailored financing solution through revenue-based finance. With a fixed fee ranging from 10-12% on the financed amount, approval within 72 hours, and a straightforward repayment process devoid of extra fees, warrants, or collaterals, Efficient Capital Labs provided the necessary capital for BestCompany.Com to nurture its SaaS segment.

‍

Results and Acquisition

With Efficient Capital Labs' financing support, BestCompany.Com was poised for substantial growth. On the road to realizing this potential, the company received an attractive acquisition offer, resulting in a successful acquisition that catapulted BestCompany.Com to new heights.

‍

Partnering with Efficient Capital Labs

The partnership between BestCompany.Com and Efficient Capital Labs exemplifies the impact of revenue-based financing in fueling SaaS growth. By providing timely and flexible capital, Efficient Capital Labs enabled BestCompany.Com to pursue its expansion goals while also assessing the potential for an acquisition. This case study underscores the pivotal role of innovative financing solutions in empowering businesses to seize opportunities for growth and success.

If you are interested in learning more, reach out via our website’s Get in Touch link.

‍