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Raistone finances billions of working capital annually within the utilities industry. As a world-leading fintech, Raistone enables utility engineers, installers, repairers, and more to get paid early on invoices due to them. Continue reading to learn how this utilities company was able to grow with the help of Raistone.
A rapidly growing distribution and transmission construction company needed cash immediately to fulfill orders and keep up with demand. Instead of waiting to get paid, Raistone closed the working capital gap which allowed them to accept new orders, expand into new regions and remove cash flow constraints.
How Raistone supported the company’s growth
Raistone converted the company’s receivables to cash, providing an initial $13 million facility, enabling the company to accept new orders. Raistone supported the company’s growth, increasing the facility to $35 million.
As a leading fintech, Raistone is integrated with the major invoicing and accounting systems, which meant our client did not have to upload invoices or make any operational changes. Raistone’s integrated approach also resulted in lower costs and higher advance rates of up to 100%.
Thanks to Raistone, this company grew their business, expanded into new regions, and removed cash flow constraints.
Get in touch with our team of financial experts
Contact us to learn more about how Raistone working capital solutions for the utilities industry will help you unlock the cash you need to grow your business.
Raistone is a trusted industry partner, financing billions of dollars of working capital to vendors of the nation’s largest utilities companies.