FAQs

Frequently Asked Questions

How it works

How much funding do you offer?
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Afundy offers funding solutions to purchase inventory from $10K - $100K, and collect pay-back from your sales.

How do you calculate my offer?
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afundy uses a unique revenue-based financing method to fund the growth of your company. We have powerful predictive models that look at your revenue, GOP, P&L, Inventory, and Marketing data to generate funding offers.

What do I need to do to qualify for an advance?
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To fund your company, we need you to have the following:
- e-Commerce account
- Bank account
- Trading for at least 6 months
- Greater than $10,000 turnover per Month

How long does the whole process take?
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The entire process (application, offer, negotiation, approval, sending funds) can be completed in as little as three business days. Large advances and applications that require special considerations or analysis may take longer.

Can i receive more than one advance at a time?
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Subject to due dilligance in case by case bases, you may receive an additional advance if:

- You have not exceeded the max amount of capital on the previous advance.
- Your company revenue has increased significantly since receiving the last advance.
- You are more than 70% repaid on your previous advance."

How does it work?
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1. Simply sign up to apply for funding with afundy.
2. Connnect your accounts to enable our model to access your revenues, GOP, Inventory and Marketing data to build you a unique offer for capital at a flat fixed fee.
3. afundy sends you funding offers to sellect from.
4. You use the funding to grow your business.
5. You pay back as you get paid with a percentage of your revenue over time.

How do I apply?
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You can apply in minutes from afundy.com. You'll need to connect your business bank account, payment processor and company financial accounts, for afundy to build your funding offer/s.

Fees

How is my fee set?
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The fee is calculated based on the financial data analysed by our platform, taking in consideration your revenue, GOP, business metrics, and market data that can detarmine your funding offer and the fee associated with it.

Is there any application fee?
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there is no application fee.

What fee do you charge?
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afundy charges fixed flat-fee ranging from 7%-15% of the funding. For example, a 100,000 investment at a 10% flat fee, you’ll pay back 110,000 in pre-agreed perecntage of your revenue. There’s no interest and our fee doesn’t compound over time.

Repayment

When does repayment start?
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Automatic repayments normally begin 1 week after the funding is agreed. afundy will begin to collect the agreed repayment percentage on your ongoing future sales, until your balance is fully paid.

Does the repayment percentage ever change?
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percntage of repayment may change slightly depending on the progress of sales.

What is my repayment percentage?
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We typically set the repayment percentage between 10%-30% of future revenue over the course of repayment. We’ll work with you to find a rate that fits your business, to keep a healthy cash flow in your day to day operations.

How long does repayment take?
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Repayment is based on your future revenues so the time to repay varies depending on the revenue share we agree. We usually aim for a 5 month repayment period but we’ll advise you on your expected repayment time after your funding offer is processed.

How long does the whole process take?
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the process from application to funding should take somewhere between 24 hours to 72hours.

How is the funding and fee repaid?
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The collection of the pre-agreed percentage share of revenue is deducted on daily/weekly bases as direct debit from your bank account.

General

What other info do you need?
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We only need to connect to your e-commerce stack to analyse your performance, so that we use this information to analyze and varify your revenue data. Depending on your business, this could be your Google Analytics account, your Shopify account or your Facebook Business Manager account, or delivery accounts for restaurants. The step is to complete your aplication and connect your business accounts to verify your identity and your business, so that afundy can provide you with a funding offer.

Why do you need my bank account information?
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Automatic repayments normally begin 1 week after the funding is agreed. afundy will begin to collect the agreed repayment percentage on your ongoing future sales, until your balance is fully paid.

How do you secure my company information?
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Afundy will never share your data with a third party without express consent. See our privacy policy for more details.

How are you different from other financing options?
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"afundy offers an efficient and flexible financing alternative to bank debt, and to fundraising, which is capital-intensive.

Unlike venture capital, afundy offers founders non-dilutive financing without giving up control of their company."

Eligibility Criteria

Which companies are eligible for your funding?
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afundy financing solution is available for e-commerce, e-shops, restaurants and marketplace.

What are the criteria to be eligible?
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To be eligible for funding, your company must have at least:
- 6 months of sales data
- $10k monthly turnover
- at least 10% positive GOP on monthly P&L statement"

Using Funds

How can i use my funds?
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You can use your funds by uploading invoices to purchase the pre-agreed inventory. afundy will issue the Purchase Order (PO) directly to your supplier after compleating the vendor registeration in our vendor portal.

How soon can i use the funds?
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Once your Salam contract has been countersigned, funds should be available for use within 72 hours.

How do i manage my funding offer?
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Once your offer has been processed, you can use your dashboard to manage your funds and check your repayments

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Can’t find an answer to your question?

Don’t stress. Feel free to chat to us via the icon in the bottom left corner of this page, or just drop us a line here - team@afundy.com

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