Can, what is your business model at Chimpy?
We rent mobile rechargeable batteries at kiosk stores. Clients can get a fully charged battery for 4 Swiss francs and leave a deposit of 15 Swiss francs. With that, they can recharge their mobile phone or any other mobile electronic devices at any time and any place. Our batteries are charged with solar electricity. We want to provide clean, mobile energy for everyone.
When did you found Chimpy and why?
Our company has been on the market for 4 years now. First, the business model of our company was a little bit different. Back then, we only supplied business clients with rechargeable batteries, collected them again and recharged them with solar electricity. Our goal was to reduce the waste of batteries. Some factors led to the outcome, that we did not expand this service anymore.
Which problems did you face?
When we had the idea to rent recheargable batteries, we first wanted to rent them to bars and restaurants. This did not work very well. When we then concluded the deal with Valora, it was clear, that we would need a lot of batteries in a short period of time. These are big investments for a small startup. Considered the long payment terms that were agreed on with the client and that we had to pay wages and other overheads during this time.
How did you handle this problem?
We looked after financing possibilities, to improve our liquidity. Banks often don’t work with young companies, because it is too risky for them. But seriously, who wants to work with banks anyway? That too much of an effort, because they don’t know the needs of a growing startup. We also discussed factoring, but it’s not flexible enough for us. Through a friend we took notice of Advanon.
Why did you choose Advanon?
Advanon’s financing solution is fast and easy to use. We needed exactly this efficiency and simplicity to improve our liquidity and satisfy the growing customer demand for our battery packs. Furthermore, the individual consulting is very helpful and they were very responsive to our needs.
What are your goals for the future?
We want to establish our service first in Switzerland. Later on, we also want to expand into foreign countries. Our goal is, to provide humans with mobile solar electricity for every mobile device.