Business Funding Case Study
The Challenge
Packman Portal LLC is an e-commerce software that enables businesses to quickly and easily create their own website with an integrated online payment gateway. They also handle local and international deliveries on behalf of the businesses.
The company’s vision is to introduce further automation and explore the possibilities of AI to enhance the seller and customer journey using Packman Portal. They plan to expand into markets across the MENA region, specifically in GCC and Egypt.
As a start-up, Packman Portal faced resource constraints. To overcome this, they pitched their idea to family and friends for investment. This led to a collaboration with a venture capital firm, which coincided with their introduction to Beehive.
What Beehive did
Beehive offered Packman Portal Term Finance. Business Funding is a flexible SME business loan which can be repaid over 6-36 months, providing the company with faster finance. It is also Sharia compliant and does not have any early repayment fees. The rates offered by Beehive were competitive and favorable, aligning well with Packman Portal’s needs and goals.
The result
Beehive’s Business Funding product played a crucial role in supporting the growth of Packman Portal by enabling them to expand into parallel markets through technology enhancements, marketing efforts, and strategic approaches. Additionally, Packman Portal has started venturing into the MENA region, specifically Oman.
“I was immediately drawn to Beehive’s rates and business model. The rates they offer were favorable and competitive. Beehive’s financial services aligned with our needs and goals. I also want to give special recognition to Mark’s outstanding support and assistance. His dedication and support made me feel a valued client and instilled a prominent level of trust in Beehive.”
– Abdulaziz Almulhem
CEO, Packman Portal
