Mayday Assistance is a UK-based leader in international medical rescue and repatriation services, dedicated to growth, operational efficiency, and exceptional customer satisfaction. Craig Huffer has led Mayday as COO and then CEO since 2012. Under his leadership, Mayday has rapidly grown from a small team and now boasts over 70 staff and a network of 100+ medical professionals worldwide. They provide uninterrupted emergency services and assistance to travellers in need of medical attention.

Situation Before Lenkie

Having experienced consistent growth since Craig took over, the company was on track to reach £10 million in revenue by 2022, with projections of £20 million the following year. This ambitious expansion journey naturally presented challenges, especially in securing the right funding from traditional lenders tailored to their business needs. This was exacerbated by the global impact of COVID-19 - with lockdowns came a temporary end to the travel that was Mayday’s main business.

Other challenges included maintaining growth investments in the face of eye-watering upfront costs of delivering services to their customers. Air ambulance transfers reach up to £40,000 per transfer, and Maydayh typically handles 20-30 of these operations each month. Delays in insurer reimbursements, ranging from 14 to 30 days, meant the company had to cover significant amounts of money upfront, often for international clients, before receiving payments. 

To help manage cash flow and proactively invest in growing the business, Mayday looked for alternative funding. Given the impact Covid had on the sector and the fact that funding was often needed at incredibly short notice and for a short period, traditional debt products like invoice finance and term loans were not well suited to their specific requirement.

How Lenkie Helped

Mayday approached Lenkie on the 15th of May, 2024, and was set up with a credit facility within days of applying. Since then, Lenkie has had a significant impact on Mayday’s financial operations, providing a crucial solution to address cash flow gaps. Lenkie's flexible fee structure saved costs by allowing them to access to funds when needed, avoiding the expense of a subscription or long-term contract. 

What’s Next

Mayday Assistance is positioned for significant growth as it focuses on scaling operations and expanding into new markets. The company is heavily investing in technological innovations, especially artificial intelligence (AI), to enhance its service offerings. With Lenkie’s ongoing support, Mayday is poised to invest in becoming the first in its industry to roll out a fully functional AI-powered assistant.