Founded in 2012, eBuyNow (EBN) has transformed the consumer electronic world via its proprietary big data intelligence to identify consumer satisfaction, and proceed to design, build, market, and distribute a better breed of consumer electronics. Currently, eBuyNow has 11 regional subsidiaries, with product offerings spanning across 32 countries globally and is listed in the TSX Venture Exchange. EBN engages in both direct-to-consumer sales channel globally, and also B2B sale of EBN-developed products, with exclusive partnership with Eastman Kodak and Motorola
EBN’s D2C revenue has increased tremendously over the years via designing various Ads and online marketing campaigns, with the aim to optimize user traffic and conversation. Choco comes in as the long term partner to help fuel the growth of the Ad deployment with translating [5X] top line revenue growth, and help push up the top line revenue [ %] within 6 months, and speed up EBN’s listing in TSX. Since EBN also engages in the R&D and product implementation processes, capital needs for inventory has been a hurdle for scaling up the business to another level. Another concern is accounts receivable (AR) delay due to the increasing volume & orders on the B2B side.
Our investment team thereby sits down with EBN management team, and together we structure a flexible repayment scheme that help a) maximize the revenue growth; b) eliminate the risk of AR delay; 3) unlock more cash flow capacity to take inventories and orders. Choco has invested 2 tranches within 3 months period, increase the cash position with 125%, also allowing EBN to liquidate some of the outstanding loans under better rates and cash flow management.