How iwocaPay helped Robot Mascot close more sales and protect them from fraud

Using iwocaPay, Robot Mascot avoided taking on work in good faith and paying the price

11 September 2020

Funds for funds

Robot Mascot works with their clients to create pitch materials that help founders to convince investors that their business is the one to back. In fact, their clients are 30 times more likely to raise the investment that they need.

Usually, businesses who are raising money need more of it, and often that means cash flow is tight.

Using iwocaPay has meant that Robot Mascot can now make the cost of their service more manageable for their clients at the most vital point of their journey – allowing them to spread the total amount over up to 90 days rather than their usual upfront payment terms.

"It’s helped us close more sales, as those who wouldn’t otherwise be able to afford our service in one lump sum can now spread the cost over a number of months," says James Church, co-founder and COO. "As a consequence, they’ve been able to raise the funding they need and scale much more rapidly than they otherwise would."

Using iwocaPay to dodge bullets

Before iwocaPay, Robot Mascot offered more time to pay via Direct Debit - taking on the risk themselves and acting in good faith. This had a knock-on effect on cash flow. They were taking the risk of doing work before they got paid and also wasting valuable time chasing overdue invoices.

"iwocaPay has allowed us to completely resolve this issue," continues James. "It also means we’re not having to risk our reputation and relationship with our clients because of missed payments, or have the risk of providing the credit ourselves."

Recently, the value of the credit checks iwocaPay does, and the risk Robot Mascot were taking on before, became clear.

A prospective client asked for extended payment terms - which previously would have been approved without checks – after sending an iwocaPay pay link the prospect got flagged. James was curious as to why, and Googled the company to find they had been taken to court in another EU country for corporate fraud under a previous business name, and owed money to several businesses.

"It saved us a lot of potential trouble and avoided what could have been a very bad situation for Robot Mascot."

With iwocaPay Robot Mascot have reduced their risk, improved their cash flow and closed more sales. Now that their customers can easily spread the cost of their packages, they’ve been able to support more founders to raise the vital capital they need.

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Laurence is the Go-to market manager for iwocaPay.

Article updated on: 14 September 2020

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