Published on 26th January, 2022
Unplugged: Scaling off-grid cabins to create relaxing escapes in nature
Unplugged is a fast-growing experiences startup that allows customers to relax and recharge in a 3-night cabin escape surrounded by nature.
Co-Founders, Hector and Ben, launched Unplugged in December 2019 and they’re on a mission to help us digitally detox from our hectic lifestyles. Customers' phones are physically locked away during the trip, allowing them to fully disconnect.
Unplugged experienced significant demand since launch, further driven by the post-COVID UK staycation boom. As a result, their existing cabins were fully booked out for months in advance, forcing them to turn away valuable customers during their busiest period.
They needed to construct and furnish new cabins, which required upfront capital expenditure. As a relatively new business, they needed access to a fast and flexible funding solution in order to quickly meet customer demand.
Lenkie worked with their platform provider to access their bookings data to underwrite Unplugged's creditworthiness in hours. Using this data Lenkie provided access to a cash advance with repayment as a percentage of revenue over time. No personal guarantees, collateral or security were required and the money was in their account within 4 days of getting in touch.
Unplugged used the cash advance to start construction on additional cabins and now have 6 different locations around London. Their monthly revenue has more than doubled as a result of reacting so quickly to increased demand. By having an ongoing relationship with Lenkie they can instantly access more capital to keep investing in their business to prepare for their summer peak in 2022.
Return on capital for Unplugged - 55%
Revenue Growth - 135%
"Working with Lenkie enabled me to unlock growth capital in days to meet increased demand. The whole process was fast, seamless and the flexibility of repayments was a huge benefit."
- Hector Hughes, Co-Founder