XinaBox

Case Study: XinaBox

“Working with AP has let us take on much bigger orders, sooner. Without them we would have had to deliver to clients over a much longer period and fund everything through cashflow. Most customers take 60 days to pay, so that’s a major handbrake on growth. AP’s invoice financing has let us grow faster: we’ve doubled headcount and gone from having one global-distributor customer to three in just three years.”

Daniel Berman, Co-Founder, XinaBox.

About XinaBox

XinaBox spotted a unique market opportunity to provide clip-together computing components that let students and others without advanced engineering skills assemble advanced circuit boards for homemade electronics. Its patented “xChip” components were an instant success and immediately attracted orders from global distributors – contracts that the startup was able to fill thanks to receivables financing from Accelerated Payments.

The Challenge

The Solution

XinaBox says the partnership with AP has been instrumental in allowing the company to scale up faster. “Working with AP has let us take on much bigger orders, sooner. Without them we would have had to deliver to clients over a much longer period and fund everything through cashflow. Most customers take 60 days to pay, so that’s a major handbrake on growth. AP’s invoice financing has let us grow faster: we’ve doubled headcount and gone from having one global-distributor customer to three in just three years.”

Daniel says AP’s partnership approach, and willingness to hand-hold XinaBox through hiccups of early admin, has been essential. The first large customer sent payments direct to XinaBox’s bank account by mistake, instead of to AP’s.

“We couldn’t get the client to change bank details immediately, so there were a couple invoices before it got sorted out. AP were very understanding and patient with us through it all. That’s why they’re great to work with: they don’t just understand what a new company like ours needs from a finance point of view, they understand the wider business challenges we’re facing, and we face them together.’’

  • Gave the startup an immediate source of finance to support fast growth
  • AP understands its wider business challenges and takes a partnership approach
  • Provides working capital that has supported a doubling of employees and large-customer base

Benefits for XinaBox at a glance

English (United States)