Business Funding Case Study
The Challenge
Bluedot, previously known as Universal Medical Transfer Services, was established to address the lack of reliable air medical transfer options in the region. The founders, who worked in a ground ambulance service, noticed this gap and set out to provide high-quality international patient transfers across the Middle East.
The company faced challenges, particularly during the COVID-19 pandemic, which significantly impacted its operations. Additionally, securing funding was difficult due to the company’s innovative business model.
What Beehive did
Traditional lenders struggled to understand Bluedot’s unique business model, resulting in expensive and lengthy funding processes. However, Beehive offered Bluedot Business Funding, a flexible SME business loan that could be repaid over 6-36 months, providing faster finance.
Beehive’s unique model, competitive rates, and support services proved to be a game-changer for Bluedot, aligning well with the company’s needs and goals.
The result
Despite the challenges, Bluedot persevered. They formed a strong team with expertise in air medical transfers and acquired an aircraft. With a dedicated team and secured funding, Bluedot successfully entered the Saudi Arabian market. Bluedot is now positioned for continued growth, with the goal of becoming the premier air medical transfer service across the Middle East, North Africa, and the CIS region.
“I would definitely recommend Beehive to any new business owners looking for funding; in fact, I have referred Beehive to multiple entrepreneurs already, mainly because Beehive’s crowdfunding model is open to a broader range of businesses, specifically new business ideas compared to traditional lenders.”
– Nijil Ibrahimkutty
Founding Partner & CEO, Bluedot
