Corl & Railz: Impacting Non-Dilutive Funding for Early Stage Companies
How Corl automates the complicated underwriting process using the Railz API and in turn, is able to provide fast, non-dilutive funding to early stage companies who are seeking it.
Ben Ames, Corl appreciates the Railz team!
Corl is a non-dilutive funding platform for startups and scale-ups. Founded in 2016, Corl is a financial technology company that finances businesses in the digital economy and shares in those businesses’ future revenue.
Over 30% of businesses don’t have the assets necessary for debt financing. 98% of these companies do not meet the venture requirements for equity financing and this has led to a $3 trillion global funding deficit. Corl exists to dramatically reshape how companies are financed. In order to provide debt equity and make the most accurate and fast financing decisions for growing companies, Corl needs access to the real-time, holistic financial data these businesses have across all their accounting and financial service providers.
Corl needed a way for our customers to quickly and efficiently connect their accounting softwares to enable companies to share their data, securely, in real-time while also offering a frictionless experience.
Corl uses the Railz API to access real-time accounting data in order to automate their financial underwriting process. Corl is a revenue-based financier and Railz allows Corl to sync up with their customers’ online accounting software and populate financial data in an efficient manner.
“Our ability to provide our clients with a fast process is instrumental and Railz platform has accelerated our ability to do just that!” — Ben Ames, Corl
“The implementation and setup process was seamless.” An easy-to-implement solution was necessary to building a successful alternative lender.
Railz allows Corl’s fully remote team to remain efficient across all digital communication platforms. Railz also improves Corl’s customer service as the Corl team is able to communicate quickly and efficiently with their commercial customers digitally. This allows Corl to acquire the data they need quickly, rather than relying on slow data collection processes and follow up, extending their origination timelines.
Corl found the implementation and setup process to be seamless. They didn’t need to alter their tech infrastructure. The team at Railz were very supportive and provided ample support and direction for integration. The setup took one day for the integration to be ready for launch and use.
“Better and faster communication with clients means clients are able to access capital and grow faster.” Railz increases customer satisfaction and conversion rates for alternative lenders.
Corl needs to get access to financial data of their small and medium business customers to provide non-dilutive capital. Getting access to all that data can take time and lead to a frustrating and slow experience for their business customers. With Railz, the time to funding is shortened significantly and communication lines remain open and timely throughout the process.
Accessibility to data from different financial and banking sources offers Corl a full and accurate overview of any businesses’ financial status in a standardized format allowing us to make better decisions and in return also reduce any potential risk. The simple and painless user experience of Railz facilitates the collection of data from Corl’s customers’ accounting softwares.
“The Railz team love what they do and this is reflected clearly in the way they support and communicate with their clients.” — Ben Ames, Corl
Corl is reshaping how non-dilutive funding happens for new companies with access to financial data through the Railz API
With Railz financial data as a service API, Corl is able to get a holistic view of their small and medium business customers’ financial data. With this, Corl can make fast and accurate funding decisions to provide non-dilutive capital to growing businesses. Together, the two companies allow for automation of the underwriting process and create an alternative lending solution for small and medium businesses.
Samantha Lloyd is the Director of Marketing at Railz. We're building the largest financial data network to support the future of finance. She has a decade of experience building organic growth, brand, and digital marketing for startups and technology companies. In her free time, you can find Sam SCUBA diving, snorkelling, paddle boarding, and jet skiing.