Bonside, a credit platform based in New York, has formed a $100 million capital partnership with the private investment firm, i80 Group. This strategic partnership aims to support brick-and-mortar businesses globally. It’s set to boost the usage of Bonside’s Repeatable Revenue Agreement (RRA), a tool crafted to fund service companies with physical locations.
The partnership with i80 Group marks a significant milestone for Bonside. It represents a step towards broadening its influence and reach in the business financing sector. Bonside extends financial aid to brick-and-mortar companies, acting as a lifeline for businesses potentially struggling in the current economic climate. The substantial investment from this partnership will inject much-needed funds into businesses recovering from the pandemic’s impact.
Revolutionizing Brick-and-Mortar Financing
With its RRA, Bonside brings a novel approach to business financing. The RRA is an innovative financial model that offers a flexible and fair funding method for businesses in need. The support from i80 Group for this model symbolizes a shift towards a more equitable business financing approach. This backing could potentially transform how brick-and-mortar businesses secure funding.
As a result, we could witness a revitalization of the high street. More brick-and-mortar businesses will secure the financial support they need to survive and prosper. This is particularly essential in the wake of the Covid-19 pandemic, which triggered a surge in online shopping and a drop in in-store sales. Without financial backing, many brick-and-mortar businesses face the threat of closure.
The alliance between Bonside and i80 Group could have a significant influence on the future of business financing. By providing a more equitable and flexible funding model, it could change the way brick-and-mortar businesses receive support. This could help ensure their survival in an increasingly digital world.
