Malusi Mbambo
It was an opportunity that would give Sportsnation a life-changing injection to their business on an ongoing basis, Maren notes.
Established in 2012 to offer an array of memorable, once-in-a-lifetime sports adventures for fans, Mbambo, the accomplished rugby player who, in his youth, played alongside several men who went on to represent the Springboks, heads up Sportsnation and was excited about the potential opportunity.
“With Rugby World Cup, Fifa World Cup and Confederation Cups, summer and winter Olympic Games, Formula 1 and Wimbledon events under our belt, Sportsnation was one of the organisations that pitched for the opportunity to bring Rugby World Cup France 2023 to life,” says Mbambo.
“To enable us to make this a successful project, we approached ProfitShare Partners for assistance, owing to the way the company works to understand the nature of our business rather than adopting the more common ‘ticking the box’ approach.”
Tailoring a touchdown
Maren says ProfitShare Partners found a unique way to manage its risk and share some of the profits on this exciting venture with Sportsnation. “Aware that small businesses require a more tailored approach to funding than many financial institutions offer, we created a winning solution together.”
Mbambo adds: “As a B-BBEE level one business, we are extremely proud to be a first-time official travel agent for Rugby World Cup France 2023 in France and cannot wait to take the spirit of Africa there.
“We chose ProfitShare Partners because their approach was very professional and they have a refreshing willingness to understand our business, the opportunity and finally our needs. Their tailored finance offer fits our business capital requirements like a glove.”
In a business that has dealings with global companies not resident in South Africa, Sportsnation’s core activities and contracts as a sports travel operator that operates at major sporting events in the world. Mbambo says it takes a financial service provider that is agile enough to view the bigger picture to make opportunities of this magnitude happen.
Maren says ProfitShare Partners is delighted with the outcome. “We look forward to continuing to support Sportsnation, and helping them grow to become one of the biggest sporting tourism companies in the country.”
SMEsAndrew Maren, ProfitShare Partners 19 Jan 2021
About ProfitShare Partners
ProfitShare Partners is a fintech business that provides disruptive short-term capital solutions (from R250,000–R5m) and transactional support to SMEs who have no access to funding, no security, financials or track record but have a contract or purchase order with a reputable company or government department. The company responds to applications within 24 hours, generates a term sheet within 48 hours and pays out within seven days for new clients – even quicker for existing clients. ProfitShare Partners does not charge interest. Instead, they share in the profit of the transaction with the SME. This is a high impact growth tool for SMEs, which enables rapid growth without giving away equity.
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