Exporting to new markets and reaching new audiences

Expanding into a new market does not just mean growing a business internationally. It could also be scaling up a team to take on larger projects, growing a product range or increasing the scope of services provided.

Growth can be a challenge for businesses across many industries. Adapting and pivoting in line with market conditions and consumer demands can support businesses to seize opportunities for growth. But having the right finance to back this growth can make all the difference.

From start-up to industry leader

RightCrowd began as a local start-up providing safety, security and compliance solutions to businesses. It has since grown to become an ASX-listed global security industry leader with offices around the world.

While RightCrowd has seen great success from exporting, it has not come without its challenges. “When you’re a smaller bootstrap company, attracting the right type of funding can be a challenge,” said CEO Peter Hill.

When RightCrowd won another global contract, it was unable to secure finance from the banks as the business lacked tangible assets for securities. We provided RightCrowd with the financial support it needed to deliver the project. Now the team is set to deploy some of that capital to move to the next stage of the business and seek out new overseas markets.

“There’s no other way of running a bootstrap company unless you know your dollar until the last day – that would be my advice. You also have to know your future estimates extremely well because there is no room for error in that environment.”

 – Peter Hill, CEO, RightCrowd

Rapid global growth

After opening its first venue in North Melbourne in 2015, international expansion was rapid for Zero Latency, a leader in the location-based virtual reality (VR) entertainment industry, licensing free-roam VR hardware and software to global venues.

Its next venues quickly opened across Singapore, Spain and the US. The pace of Zero Latency’s early success meant that there needed to be a strong investment to bolster its fast-growing worldwide network of venues.
To purchase components for its systems, develop new gaming content (a process that can cost between $1 and $1.5 million per new title) and significantly boost its accompanying marketing and branding strategies, we supported Zero Latency with a term loan.

Our support not only provided financial stability but also added credibility to Zero Latency's business model. This backing proved invaluable when the business was negotiating with new licensees and stakeholders, demonstrating its financial robustness and potential for growth.

“We wouldn't have been able to position the business for the growth that we're expecting to see over the course of 2024 and beyond if it wasn't for Export Finance Australia’s funding.”

– Glenn Johnson, Chief Financial Officer, Zero Latency