A Northeastern virtual reality technology company needed capital to advance beyond its beta testing stage. After reaching out to their large institutional bank for support, the company was referred to Prestige Capital due to being too early-stage for traditional bank financing. To grow a relationship with a national retailer, the chief financial officer secured a $1 million facility from Prestige Capital.
“Early-stage companies can benefit from invoice financing, but few know about this option,” Rachel Hersh, sales director, North America at Prestige Capital, said. “I’m always grateful to have a solution that gives innovative companies a chance.”
Through the use of invoice financing, the virtual reality company can continue to grow its business in both the real world and the virtual one.
