Help – We’re Strolling Too Fast!
How we helped this innovative product design company manage the challenges of growth.
Like so many great innovations, the idea for Omnio came from an everyday problem. Founders Markus and Samantha Warwick were halfway into a long walk back to their car after a family day out in Cardiff, and their son, Ben, no longer wanted to use his stroller. This left them faced with carrying not only a tired toddler, but an awkward stroller. As they huffed and puffed their way back to the car, the concept for Omnio’s first product was born – a wearable stroller that could fold down into a backpack for easy transportation.
Less than five years later and after several successful crowd-funding campaigns to get them started, Markus and Samantha find themselves heading up an international company, with Omnio Stroller already being sold in more than half a dozen countries worldwide and new markets and products on the horizon.
The success and growth has been far more rapid than either had anticipated – a good problem to have but not without its challenges. With orders flooding in from across the continent and beyond, the new company found themselves in a position where they didn’t have the capital to fulfil these orders.
Markus and Samantha came to Jardine Norton towards the tail end of 2016. Theirs was the kind of problem we have seen countless times before – a new and thriving business stopped in its tracks by a cash flow blockage, caused by long wait times for payment. When dealing with export markets these wait times can be up to 180 days – an untenably long time if you need capital to win new contracts.
But instead of a six month wait, we were able to fund their invoices. Three working days later the cash was in their bank and Omnio were strolling forwards once more.
“Jardine Norton were a breath of fresh air because they allowed us to select only the invoices that we wanted to fund. Their customer service ethics are spot on and the way that they work is highly professional – exactly the kind of dynamic company we aim to work with. Unlike the more traditional banks that look at your cash flow, Jardine Norton were only concerned with the quality of our contracts, and we have very good quality contracts. It was a really quick process that ended up with the result we wanted.”
Read the full interview with Markus talking more about the company’s growth, challenges and how they have overcome them here.