Octet customer, Redsbaby, talks to The Sydney Morning Herald about using Octet Finance to fund its successful pram business.
“Redsbaby now turns over $5 million a year and employs 35 staff. It has fulfilled over 10,000 orders and claims 14.5 per cent of total online pram sales.
Redsbaby relies on non traditional funding by using credit cards to procure stock from China via global fin tech company Octet.
‘Even though we are cash flow positive it really allows us to free up cash,’ Brett says. ‘The beauty is we can pay a supplier today and then for 51 days we have an interest free loan. We are the fastest paying customer that they have. We are a small customer compared to others but they love to work with us. Any small business has to look what they can bring to the table when dealing with large manufacturers.’”