Konvergent
PATRICK VAN DER KLEIJ - GENERAL MANAGER
"The positive aspect of Boozt24 is that they think along with you, focusing on opportunities and swiftly addressing issues."
About Konvergent
Konvergent, based in Teuge, Gelderland, specializes in high-quality ingredients for the production of premium pet food, particularly for dogs and cats. The company not only trades these ingredients but also provides additional services, including repackaging, fine grinding, sieving, and mixing, tailored to the customer's preferences. They also handle processing permit-required ingredients such as animal proteins, significantly easing the burden on the final producer. "Our goal is to add value to ingredients and work as sustainably as possible, upgrading by-products, locally sourcing raw materials, and minimizing unnecessary transportation, utilizing third-party warehouses elsewhere in Europe." – Patrick van der Kleij, CEO of Konvergent.
Start ingredient production in the Netherlands
When the company started in 2021, the production plant from which Konvergent now operates was still owned by a company facing difficulties obtaining an export license for animal proteins to Asia. The facility, later leased by Konvergent, remained unused for a considerable period. Despite this, Van der Kleij, familiar with this specific aspect of the ingredients market from previous roles, saw opportunities to operate from the Netherlands, leading to a 50-50 shareholder agreement. Konvergent became a reality, and the processing and delivery of ingredients began.
Challenge
When Konvergent approached Boozt24 for invoice-based pre-financing, the company had only been in existence for a relatively short time. The initial financial figures were understandably not strong enough for traditional bank financing, and suppliers also imposed limits on creditworthiness.
While the startup capital was initially not an issue from a financial perspective, as Van der Kleij's partner could provide it, the company encountered the challenge of having to wait for customers to pay invoices while needing to pay suppliers promptly. This prompted them to explore suitable accounts receivable financing to access liquidity earlier. "We wanted to retain the freedom to operate under all circumstances," said Patrick, "to execute our plans to deliver high-quality ingredients, preferably in a sustainable manner."
Solution
The Result
Boozt24 takes promising young companies under its wing
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