Reference
Turnaround through liquidity: How Unisynk got back on track with factoring
Unisynk, a Swedish company, develops high-performance electronics for consumers and businesses – with a focus on performance, safety, durability and design. Thanks to the support of A.B.S. Factoring, Unisynk was able to overcome financial hurdles, secure its liquidity and write an impressive success story.
Year2012the foundation
- Retailer5000
offer the high-tech products
- Products50
in the range
Our customer
Universal Creation AB
Unisynk is a Swedish technology company specialising in high-quality mobile phone and computer accessories. With a focus on performance, safety, durability and design, Unisynk develops innovative high-tech products for consumers and businesses. Today, their solutions are available in over 5,000 retail outlets and are used by international organisations such as NATO.
About the company
Industry: Electrical engineering, mobile phone accessories
Founding year: 2012
Website: https://unisynk.se
Financing: Equity capital, A.B.S. Factoring
Factoring category: Production
Despite high demand, the young company was on the verge of insolvency just a few years after it was founded. “Developing products from scratch requires enormous capital resources. It’s not just about the product itself – you also need the right tools, machines and certifications. You also need a certain amount of stock to be able to sell at all,” explains Gabriel Olsson. “Without solid cash management, it will be extremely difficult to be successful in the long term.”A serious miscalculation.
After winning a competition in which their main competitors also took part, Unisynk was commissioned to develop a new charging station. “I am competition-orientated and knew immediately: We will win this! At the same time, however, I realised that we didn’t actually have the resources for such an ambitious project,” recalls Gabriel Olsson.
Nevertheless, the team took up the challenge and began producing several thousand highly complex charging stations. Financing was put in place – and production began.
“Oh dear – we totally miscalculated! The production costs were much higher than expected,” Johan Thelander admits today with a smile. “The shortfall was so massive that we almost went bankrupt. Nevertheless, I have no regrets about accepting the job. We learnt a huge amount, the product turned out great and Unisynk was able to position itself strongly on the market.”
Today, despite a year characterised by a global pandemic and economic crisis, Unisynk can once again report a strongly positive result. With expertise, perseverance, a good network – and with A.B.S. Factoring – Unisynk has actually managed to turn its fortunes around and achieve a turnaround.
The key to success lay in a flexible and reliable liquidity solution. By using A.B.S. Factoring, Unisynk was able to quickly convert outstanding receivables into liquidity and thus avoid financial bottlenecks. This enabled the company to invest in production, development and sales despite economic uncertainties. The combination of strategic financial planning, a strong network and the rapid availability of capital through factoring helped Unisynk not only to stabilise, but also to grow sustainably.
The result
As a result, Unisynk’s product range has grown significantly and now includes more than 50 products. More than 5,000 retailers, mainly in Scandinavia, offer Unisynk products. But although the devices are high-tech, this was not a sure-fire success. The two founders worked hard for a long time and bet all their money to turn their idea into a successful product. And they also needed some help along the way.the future for Unisynk lies in focussing on its technical strengths in product development. The company plans to produce more advanced power supply and connectivity products such as USB-C hubs for laptops, smartphones and tablets. And Gabriel Olsson is clearly setting the direction:
“Now we are profitable, we have a positive cash flow and therefore great freedom to develop our business. Now we are accelerating!”
Why factoring with A.B.S.?
What tipped the scales in favour of A.B.S. Factoring? Gabriel Olsson, Managing Director of Unisynk, explains what made the turnaround possible:
More liquidity through factoring
“Sustainable growth requires not only a strong vision, but also financial stability and confidence in our own resources. Factoring was a key component of our success strategy. The ability to convert our receivables into liquidity immediately via A.B.S. Factoring instead of waiting a long time for incoming payments has often provided Unisynk with the necessary financial room for manoeuvre.”
Sufficient financing
“We have proven that our business model works. A.B.S. is an important partner for us. Their financing solutions are perfectly tailored to our needs and give us the flexibility we need. We also benefit from the support of experienced investors who continue to drive our growth.”
Passion and a good team
“We have never doubted our idea. Not even when the company was on the verge of bankruptcy. With hard work, the right product selection, the right people in the organisation and good partners, we managed to be successful. This is perhaps the hottest tip for other entrepreneurs: believe in your idea!”
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