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Driven to start his own business, Mark Little and his business partner had little more than an idea when they built their first prototype: “My business partner, Luke and I designed our first headset - we called it the claw. It’s a crazy-looking device. We took the prototype, developed a few more iterations and found an angel investor.”

After achieving seed funding the duo took their product into research and development, and started selling directly online.

“We were so pleased to get that initial investment to get the project off the ground.” says Little “We raised £150,000, allowing us to continue to develop the headset and order our first 10,000 pieces.”

The need for invoice finance Freefly first considered alternative funding in the form of invoice financing before Christmas 2015 in order to help relieve our cash flow issues. “We wanted to buy more stock, but we had invoices with 60 day terms” explains Little.

“When we first looked at it, all the companies we approached said that it was all or nothing: fund all of our invoices through them or not use them at all.”

As the whole-turnover model didn’t fit with Freefly’s seasonal income patterns, they turned to MarketInvoice. “It was exactly what we needed” says Little “we can pick and choose the invoices we need funding against without being locked in. It’s fantastic to be able to access cash that’s just sitting in our invoices awaiting payment.”

“It was really easy to get onto the platform – it just takes all of the stress out of getting working capital, so we can focus on what really matters – expanding our business. I recommend it to everyone who runs a small business.”

“My dad worked for himself and I’ve always been surrounded by entrepreneurial people. I’ve always wanted the freedom to choose my own path and my own direction”.

Freefly VRA British start-up at the cutting edge of virtual reality technology

Mark Little, CEO and Co-founder of Freefly VR, left the security of a job in March 2013 to pursue his dream of running a business.

freeflyvr.com

@freeflyvr

It just takes all of the stress out of getting working capital, so we can focus on what really matters – expanding our business. I recommend it to everyone who runs a small business.