Teamdrill recounts its financing experience

Hello Hugues! Can you introduce yourself in a few words? And what does TeamDrill do?

Hello ! I'm Hugues Renou, co-founder of TeamDrill and Atoria. TeamDrill is a B2B SaaS that helps customer facings (sales, care) master all the knowledge they need to do their jobs. This is achieved by integrating various tools into the day-to-day lives of employees, to train them in the knowledge they need. The ultimate aim is to save teams time.

What was the background to TeamDrill's need for financing?

We wanted to accelerate our development, invest more in marketing and open a recruitment position. Karmen seemed to be the best possible solution to give us peace of mind about our cash flow. It was the best way to free up cash quickly, so we could spend with peace of mind and reinvest in growth.

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Right from the start, we understood how easy it was to set up financing, and that was a real game changer for us. What's more, from the outset we were dealing with a team that listened and was genuinely willing to adapt to our needs. So Karmen met all our expectations.

What were your selection criteria for your support service? 

For us, there were 2 criteria. The first was speed: we realized that with traditional banks, the only response to our eligibility for a loan could take up to 2-3 months after the first e-mail was sent. This was not possible for us. We wanted to get a rapid response that matched the speed of development of our business. It's true that banks are not yet fully aligned with the rapid acceleration of start-ups...

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The second criterion was efficiency. We wanted a simple solution that wasn't complex to set up. When we started talking to Karmen, the solution seemed even simpler than I'd imagined, and I liked it a lot.

Can you tell us about setting up the funding with Karmen? 

The least we can say is that, as I mentioned above, everything was very fast and very efficient. There are three main steps.

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First, after explaining what Karmen is and aligning with the main principles, I was able to connect my tools and banks to the platform in an extremely simple way.

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Then the Karmen credit committee gave us the financing offer that matched our needs. What's great is that the offer template allows us to manipulate our own data and do our own business plan simulations.

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Everything is transparent and there are no hidden fees thanks to a clear schedule. Once the contract is signed, the money is transferred to our account. It even arrived a day early!

How has Karmen contributed to TeamDrill's success? 

Thanks to Karmen, we achieved the goals we set for ourselves. Within 3 months of funding, our growth has increased by 12%. This is mainly due to the flexibility of the solution. Karmen adapts to the evolution of the company's business thanks to the possibility of releasing different sums over the long term and this is what has contributed to TeamDrill's success.

How do you see the collaboration between TeamDrill and Karmen continuing?

Karmen is my favorite person to call before my banker. We would feel very comfortable applying for financing again because everything was really easy to set up.

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The flexibility of the solution is a real game changer. For example, we were able to make an early repayment of our financing: no schedule constraints or late penalties!

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What's more, the fact that we can scale our financing according to our needs is a real asset, because we know we'll be able to call on you as soon as we have other acceleration projects.

What would you say to a start-up looking for a fast financing solution for its growth? 

I'll simply tell them to contact you! In just a few minutes, by filling in your form and making a 15-minute call, you'll have an initial proposal, so you can get started very quickly.