Unplugged: Scaling off-grid cabins to create relaxing escapes in nature
Unplugged is a fast-growing experiences startup that allows their customers to recharge in three night cabin escape, surrounded by nature.
They are on a mission to help us unplug from our devices and relax, as an antidote to hectic city life. Customer's phones are physically locked away during the trip, allowing them to fully disconnect.
Unplugged has experienced significant demand since launch, further driven by the post-COVID UK staycation boom. As a result, their existing cabins are fully booked out for months, forcing them to turn customers away during a very busy 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 to enable them to make the investment 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 required and the money was in their account within 5 days of getting in touch.
Unplugged used the cash advance to start construction on additional cabins and now have 6 different locations around London with their monthly revenue having more than doubled by being able to react so quickly to increased demand. By having an on-going relationship with Lenkie they can instantly access more capital to keep investing in their business to prepare for their summer peak.