Having officially launched in 2019 Goldilocks Suit created a world-first smart baby clothing system. The smart baby onesie was an instant hit, with orders rolling in thick and fast. However, with much of the company’s capital already invested in R&D, this presented a challenge.
Avoiding dilution & maintaining control
Goldilocks Suit negotiated favourable terms with the manufacturer, but it became clear that this alone would not save the company’s cash flow quandary.
That’s when Goldilocks Suit discovered how R&D financing could provide early access to its R&D tax incentive refund. “The amount of working capital needed to fulfil our initial orders and pay our contract manufacturing and shipping costs was sizeable,” Goldilocks Suit Founder Shem Richards explains.
“Getting a Radium Advance allowed us to pay our manufacturers, overcome our cash flow impasse and transform our business into what it is today,” Shem says.
Now, thanks to having the right capital at the right time, Goldilocks Suit is going from strength to strength with new products and overseas markets in its sights.
Download the full case study to learn how your business can benefit short term and long term with Radium Advances.
And to learn more about Goldilocks Suit visit goldilockssuit.com