If you are already running an e-commerce business or planning to start one, you might know that running every business involves overhead and operational costs. Also, there are banking operations involved in running a business, and it is tough to run everything on your own if you are a solo entrepreneur. This is where you need a service that gives you all the banking features and credit and cash flow insights on a single platform that you can see right in front of you, and you don’t have to run to different places for different things.
That is where Highbeam comes into the picture as it is a startup that provides banking features, credit and cash flow insights as well as more to its customers right from its dashboard. Highbeam’s co-founders come from a background where they have worked with e-commerce partners and they know the struggles these people face everyday. That is how they developed their own product and they now announce raising a $10 Million round via debt option.
While debt is seen as a bad thing in the industry, it is not so bad if you want to keep your equity with you and run your business on your own terms rather than hearing what your stakeholders have to say about running your business. Highbeam’s founders say that they realized very early that while e-commerce is a great way to build your business, it is also low-margin and capital-intensive, and most of the decisions that you take are based on how much money you have left in your bank account.
They say that with the help of Highbeam, you will be able to take care of your expenses and credit demands, which is how you can manage your inventory better. Highbeam also alerts the owners if vendor costs are fluctuating, which means they can track their expenses and change vendors as quickly as possible if their expenses are out of hand. While Highbeam provides loans to its customers, they say that the advantage is these loans are repaid on a per-sale basis which means if they had a slow month, then they have to repay less, which is called revenue-based financing.
