Juice is a leading alternative finance provider which lends and supports companies over the long term, acting as an extension to their own marketing teams. Its customers can turbocharge their growth by leveraging the company’s marketing ‘war-chest’ and user acquisition expertise. And now, this forward-thinking company has Modulr payments power as an integral part of its arsenal.
A forward-thinking approach to filling the funding gap
In contrast to other lending companies, Juice believes it takes more than short-term revenue-based loans to transform a company. Instead, it offers a ‘war-chest’, comprising of User Acquisition funding, partnership, commitment, and guidance from a team of growth specialists who ensure that funds are fully optimised.
This unique proposition has evolved from a deep understanding of the UK scale-up market. Having identified that promising start-ups were faced with a funding gap when looking at growth capital financing, Juice set out to create a non-dilutive product for digital user acquisition, with lending based on a company’s marketing data, rather than its revenues.
According to CEO and Founder of Velocity Capital and Juice Ventures, Raj Saxena, “Juice Ventures has been set up to allow founders to grow at scale without dilution. Marketing is often cited as a digital businesses’ biggest reason for failure – so get it right and then as an entrepreneur you have a far greater chance of success”.
In realising its vision for a transformative lending model, Juice was challenged when it came to finding a payments partner that could deliver both the necessary visibility of loan usage and an adequate level of management and control over repayments. Also, all aspects of its legacy payments workflow, including lead management, approvals, documentation, payments, monitoring and collections, were manual in process which was hugely time consuming and created additional exposure to operational risk.
Undiluted payments power – How Juice is using Modulr
In Modulr, Juice found an infrastructural partner ideally positioned to help it realise its lending ambitions by offering undiluted payments power.
Leveraging Modulr’s API-driven platform, Juice can now build its proposition on a robust yet flexible digital payments infrastructure. Modulr’s direct participation in the UK payments scheme and Principal Membership of the card schemes gives Juice the same level of access to Visa and Faster Payments as established financial institutions but backed by next generation technology. Payments can be processed securely and efficiently, 24/7, while Modulr takes on the regulatory and operational heavy lifting. Intelligent, automated payment flows have replaced manual processes and allow for real-time card and account issuing, with full visibility of funds for improved security and reconciliation.