Operation COVID-19: A message to the SaaS ecosystem by Girish Mathrubootham (CEO, Freshworks)

SaaSBOOMi Debt Fund

COVID-19 has brought the global economy to a standstill to an extent which even the Great Depression did not. The resulting impact on businesses particularly in terms of cash flows from customers and venture funding is significant.

As a community, we are stepping forward to support, mentor, and guide SaaS startups through these challenging times. Access to working capital is a key element of this support and we have come together to offer just that to the startups at SaaSBOOMi that need it the most.
What is our plan?
We’re looking at augmenting your existing cash on books and Accounts Receivables with a working capital loan that can help you extend your runway to up to 12 months.  This will be a debt fund which will help you survive this trying period and march towards sustainable growth.

This will be structured as revenue financing, where you’ll repay the borrowed funds out of your revenue, on a monthly basis. We are partnering with Financial Partners who will offer you standard terms and fast turnaround (approx 10 days). 

Beyond this financing, the SaaSBOOMi team will further help you optimise your business and bring efficiency in Capital Management.

Who can apply?
Some of the parameters that we’ll be looking at are:
Minimum 24 months in operation, with 12 months of recurring revenue proof and at least 6 months of revenue stability
No services revenue contribution to this MRR
Minimum ARR - $250K
financial partners
Who will be helping you from the SaaSBOOMi team?
Pallav Nadhani
Manav Garg
Eka Software
Vinod Muthukrishnan
Avinash Raghava
media coverage
SaaSBOOMi collective to help Covid-19 hit startups
#StartupsVsCovid19: SaaSBOOMi Sets Up Covid-19 Fund, Offers Counselling & More
SaaSBOOMi launches debt fund to support entrepreneurs during the coronavirus
What is the application process?
Once you submit the form mentioned below, the SaaSBOOMi team will review your application and get back to you if you qualify.
We will then connect you with the Financial Partners, who might require a few more details from your side. This will be a non-dilutive financing
Once you have furnished all the necessary information, expect a quick turnaround from our partners.
We wish you all the very best as we all collectively confront this unprecedented challenge. May you grow and prosper! Remember, we’re in this together.