With revenue-based financing from ECL,TechGenies, a bootstrapped software company hired key leaders at a critical moment. How did revenue-based finance fit into their hiring and growth trajectory?

Using Revenue-Based Finance to Onboard Game-Changing Leaders

TechGenies, a global leader in software development and cybersecurity, has revolutionized the way IT professionals connect with businesses worldwide by leveraging a global talent network that synergizes onshore and offshore resources supported by an innovative staff augmentation model.

In their strategic move to scale up, TechGenies has formed a pivotal partnership with Efficient Capital Labs (ECL). The key outcome of this partnership has been the ability to secure essential funding, crucial for hiring transformative leaders including a Head of Sales and a Head of Marketing Strategy.

This strategy demonstrates how TechGenies is leading the way for companies looking to grow without losing control over their equity or company values.

Pioneering Software and Cybersecurity Across Continents

Founded in 2015, TechGenies has quickly become a powerhouse in software development, IT consultancy, and cybersecurity solutions. Their unique BOT (Build, Operate, Transfer) model coupled with robust cybersecurity products and services offers clients a significant strategic advantage, swiftly launching them into global marketplaces.

With its headquarters in the USA, TechGenies boasts a global presence in over 10 countries, including tech hubs in South & Southeast Asia, Europe, and Latin America. This includes a diverse team of over 200 employees, including skilled software engineers, product managers, UI/UX designers, developers and network security administrators.

CEO Ahmad Al-Amine encapsulates his mission, "Support markets with more demand than talent, while emphasizing a commitment to delivering exceptional talent at competitive prices, often 25% to 50% less than US-based teams."

Gearing Up for Growth

As 2023 approached, TechGenies was poised for ambitious growth, necessitating the need to strengthen of their growth team with experienced leaders. Thriving as a bootstrapped company and 100% ownership, TechGenies sought external funding to propel their next growth phase without relinquishing equity.

In the challenging economic landscape of 2023, where venture capital funding dwindled, alternative funding solutions emerged as a lifeline for many founders. Al-Amine, recognizing the prolonging venture cycles, sought a near-term funding option that didn't involve prohibitive costs or loss of equity.

Efficient Capital Labs: A Strategic Funding Partner

Navigating bridge financing was filled with high-interest options, often ranging between 25-30%, which Al-Amine found excessive. His introduction to Revenue-Based Financing and Efficient Capital Labs (ECL) by a peer marked a turning point. ECL's approach, characterized by reasonable rates, transparency, and a partnership-centric philosophy, aligned well with TechGenies’ team's values. This led to a mutual understanding of ECL as more than a financier, but a long-term growth partner. ECL's agility and flexibility contrasted favorably against conventional equity methods, allowing TechGenies to pivot from expensive debts to strategic growth investments.

Results: Spurring New Growth Horizons

Leveraging ECL's backing, TechGenies has embarked on a bold expansion plan. Al-Amine, leveraging his entrepreneurial experience, is focusing on talent acquisition, dedicating substantial resources to recruit key leaders.

This synergy with ECL is a cornerstone of TechGenies' growth. Learn more about ECL at contact@ecaplabs.com.