Editing Credabill
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Credabill aims to disrupt the multi-billion pound UK home improvement market by enabling businesses to offer their customers monthly finance, at point of sale. | Credabill aims to disrupt the multi-billion pound UK home improvement market by enabling businesses to offer their customers monthly finance, at point of sale. | ||
* | * MVP used to quote £4.7m of home improvements with around £1m in loans paid out | ||
* Full permission FCA authorisation | * Full permission FCA authorisation | ||
* Affiliation with MyJobQuote.com to introduce Credabill to its 30k users | * Affiliation with MyJobQuote.com to introduce Credabill to its 30k users | ||
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<vimeo>710709475</vimeo> | <vimeo>710709475</vimeo> | ||
37% of UK consumers use ‘Buy Now Pay Later’ services to spread the cost of purchases. Credabill believes that gaining access to a customer financing facility for small home improvement businesses has been too difficult for too long, with many providers requiring at least £1m in turnover, 2 years trading history | 37% of UK consumers use ‘Buy Now Pay Later’ services to spread the cost of purchases. Credabill believes that gaining access to a customer financing facility for small home improvement businesses has been too difficult for too long, with many providers requiring at least £1m in turnover, 2 years trading history & direct FCA authorisation. | ||
Credabill allows any home improvement business regardless of size or age to offer monthly payment finance. A Forrester study shows that businesses providing customers with a finance option experience a 30% increase in sales | Credabill allows any home improvement business regardless of size or age to offer monthly payment finance. A Forrester study shows that businesses providing customers with a finance option experience a 30% increase in sales & Credabill brings this benefit to home improvement businesses with ease. | ||
Businesses create | Businesses create & send quotes that offer options for customers to spread the cost. Customers can tailor the quote to a suitable monthly amount with or without a deposit. Once approved the business completes the home improvement & the payment is released to them, minus a processing fee. | ||
Credabill launched its MVP in 2020 to a small beta market | Credabill launched its MVP in 2020 to a small beta market & has since been used to quote ~£4.7m worth of home improvements with ~£970k in loans paid out. Its platform went live in Jan ‘22, & has been used to quote ~£3.5m with ~£840k in loans being arranged. | ||
From onboarding 10 businesses in the month of Jan 2022 to around 60 in the month of May, Credabill is now raising to expand its team and further develop its technology to meet demand. | From onboarding 10 businesses in the month of Jan 2022 to around 60 in the month of May, Credabill is now raising to expand its team and further develop its technology to meet demand. | ||
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'''Kshitiz Saxena''' - Product Engineer owning product development. | '''Kshitiz Saxena''' - Product Engineer owning product development. | ||
'''Bobby Montgomery''' - Account Acquisition Manager. Worked with Andy at his previous company. Bobby jumped ship to follow Andy into his new venture on day one | '''Bobby Montgomery''' - Account Acquisition Manager. Worked with Andy at his previous company. Bobby jumped ship to follow Andy into his new venture on day one & brought with him the skills & expertise gained at the previous company. | ||
'''Dawn McFarlane''' - Compliance Officer at Credabill since day 1. Worked with founder Andy at previous company for 2 years. Holds CPD Accredited in AML | '''Dawn McFarlane''' - Compliance Officer at Credabill since day 1. Worked with founder Andy at previous company for 2 years. Holds CPD Accredited in AML & KYC. | ||
'''Dean Ferrie''' - Account Manager. With Credabill since day 1. Deans commitment, loyalty and expertise was proven at Andy’s previous company, where held post as sales director, responsible for maximising sales and revenue of the company. | '''Dean Ferrie''' - Account Manager. With Credabill since day 1. Deans commitment, loyalty and expertise was proven at Andy’s previous company, where held post as sales director, responsible for maximising sales and revenue of the company. |