For the last two years we’ve partnered with Adam, founder of IncTablet. He began the business by refurbishing and re-selling consumer electronics from his bedroom. Now, his business is turning over millions each year, fuelled by the growing trend for consumers looking for more wallet (and environment) friendly alternatives. Read on to learn how Adam has navigated narrow industry margins and huge seasonal demand with our credit facility.

The Cashflow Problem

Whilst there’s no shortage of opportunity in re-selling e-devices, the industry comes with its own particular cashflow challenges. From purchasing wholesale, service and repair, to shipping and delivery, the end margins involved for retailers can be incredibly tight, impacted by even small differences in the price of different models and batteries between suppliers. The situation is made even more challenging given that payment terms can vary wildly between eCommerce platforms through which most sell, ranging from 20 - 45 days via small unit values worth only £100-300 at a time. 

For years the typical solution has been trade credit or invoice finance, each of which have their own limitations. Trade credit is limited only to those suppliers who offer it, of course, with additional interest or fees which compound over time. Crucially, in both cases, overreliance can strain relationships with both customers and suppliers. To sustain success, businesses like Adam’s need funding solutions that allow them to build bargaining power with these third parties, rather than sacrificing it.

The Lenkie Solution

Adam found the competitive edge within Lenkie’s credit facility. Offering instant payments on supplier invoices while spreading repayments up to 12 months, Grow Now Pay Later (GNPL) provides funding at the crucial payables-end of the cycle. With the ability to purchase more stock in the space of their trading year, Adam has been able to increase turnover and strengthen relationships with his suppliers and re-selling platforms, where order volumes are key. The result is that Inctablet can lock in the best price, for the best phone models, helping them to reduce costs. 

Don’t just take it from us - read Adam’s own thoughts:

The Next-Gen for IncTablet

With turnover on the rise, and large competitors launching their own refurb programs, Adam is looking to diversify his sales channels across new and profitable platforms. Well-known staples like eBay, as well as new contenders such as TikTok Business, have already begun to build strong traction for the business. With Black Friday and Christmas just around the corner, we’re incredibly excited to hear what successes Adam is set to achieve here.