Fillogic increases revenue by 35% using Gynger
Fillogic is a rapidly growing logistics company that specializes in transforming underutilized spaces into efficient and strategic fulfillment centers. Their unique approach involves subletting space from retailers and converting it into state-of-the-art logistics hubs, providing services to various retailers and e-commerce players.
As Fillogic experienced rapid growth, they faced a significant challenge - the need for alternative capital to scale their operations swiftly. Traditional financing methods, such as banks and equity investors, had limitations in meeting their dynamic and urgent financial needs. The company needed a partner who truly understood their business model and had the agility to support their growth plans promptly. They needed help securing the capital necessary to take advantage of time-sensitive opportunities to make strategic purchases at discounted costs, enabling them to significantly improve margins.
Flexible financing to optimize resources and stagger costs in critical growth periods
“Without Gynger, we’d be six months behind our revenue goals because of the latency of how other lenders work.”
In search of flexible and timely financing solutions, Fillogic explored various options beyond traditional lenders. Which led them to Gynger, “a true financial partner,” that gave Fillogic the flexibility needed to accomplish their objectives. Gynger showcased a deep understanding of Fillogic's vision, needs, and business model - making them the ideal partner to support them with their immediate and long-term financial needs.
For Fillogic, the most compelling aspects of Gynger’s platform were:
- Speed: Fillogic was approved and began financing technology within 24-hours.
- Flexibility: Gynger offered a variety of financing options tailored for technology purchases that no other lender provided.
- Cost Efficiency: Gynger approved Fillogic with extremely competitive rates that no other lenders could provide.
- Partnership: It was clear to Fillogic that Gynger was committed to being a true partner for them from day-one through their speed and thoughtfulness throughout the process.
Gynger's financing empowered Fillogic to accelerate its growth by funding the development of new logistics facilities and the ecosystem of hardware and software technology vendors required. Because Gynger approved Fillogic for financing with lightning speed, they were able to dramatically accelerate their revenue and expansion plans.
1) Instant flexibility
When an opportunity arose for Fillogic to buy new infrastructure for one-third of their initial quote if they could purchase it on a tight deadline, they utilized Gynger to move fast while paying them back later. With resources secured, Fillogic was able to launch three new facilities in a matter of months and continue their rapid growth pace.
“In a business like ours, you have no idea how important it is to move quickly. Gynger’s speed was a game-changer. A bank would send a huge contract for lawyers to go over. Who has that time or the resources?” - Bill Thayer, Founder & CEO
2) +35% revenue increase
In logistics, execution makes or breaks businesses. And, more often than not, having the right financing partner in place impacts execution. Gynger provided Fillogic with the capital it needed to significantly enhance efficiency across every aspect of its operations.
The result? Increased revenue of 35%.
3) A bridge between financing rounds
Fillogic didn’t want transactional relationships; they were looking for a true partner to scale with them. Gynger supported Fillogic through the ebbs and flows of raising funding rounds, when other lenders may have not been there for them.
“I can count on my 10 fingers the folks I would work with continually. Gynger is on that list, easily.” - Bill Thayer, Founder & CEO
Gynger's flexible financing options and deep understanding of Fillogic's needs proved instrumental in achieving remarkable growth and efficiency. The ability to secure fairly-priced funding quickly, allowed Fillogic to accelerate their growth and solidify their position as a leader in the logistics landscape.
“Without Gynger’s support, we wouldn’t be where we are today.” - Brett Strassman, VP of Finance
To learn how Gynger can help your business, contact us today.