Outsource Accelerator secures US$1.5m fund for expansion through strategic asset acquisition
MANILA, Philippines, July 7, 2021 /PRNewswire/ -- Outsource Accelerator today announced a US$1.5m special purpose fund for the acquisition of online web assets. The web assets will add significant online traffic to the portfolio and enhance the outsourcing marketplace's growing influence over the remote and offshore staff industry.
The leading outsourcing marketplace secured a US$1.2m equity-free facility from Capchase, a US-based non-dilutive financing startup, with Outsource Accelerator contributing the remaining US$300,000 of capital. Capchase's debt facility enables Outsource Accelerator to raise significant capital, fuelling its growth strategy, without selling equity, or diluting the 100% ownership position of its founder, Derek Gallimore.
Outsource Accelerator currently generates over one million site visitors annually and is driving towards 10 million visits annually within 2-3 years. The outsourcing platform provides an outsourcing directory, education and advisory and generates an estimated US$50m of new inbound outsourcing inquiries every month.
The platform has seen double-digit monthly growth over the last two years and is further buoyed by the growing global trends of remote work, outsourcing and offshore staffing. The company generates good profits and is self-funded.
"This equity-free funding enables us to fulfil our aggressive growth objectives through the acquisition of strategic web assets, whilst at the same time retaining full ownership and control of the company," said Derek Gallimore, CEO of Outsource Accelerator. "I am really excited to educate the world about the Philippine outsourcing sector. The talented professionals, scalable offshore solutions, and world-beating prices deserve global recognition – and that's what we're working on," said Gallimore.
Outsource Accelerator expects another 30m jobs will be offshored over the next 10-15 years as businesses become increasingly remote-friendly, globalised, and technology-enabled. "Businesses are waking up to the fact that they can source highly qualified staff, from across the globe - and save 70% on their costs. Outsource Accelerator makes this a reality," said Gallimore.
Outsource Accelerator joins a growing list of fast-growth Southeast Asian businesses to secure international funding - as investor interest in the region intensifies and more promising startups emerge.
ABOUT OUTSOURCE ACCELERATOR
The Outsource Accelerator platform is the world's leading marketplace and advisory for Business Process Outsourcing (BPO), offshore staffing, remote and global employment. Outsource Accelerator helps businesses explore, build and operate offshore and remote teams.
MEDIA CONTACT:
Ynah Edillor
Outsource Accelerator
E: [email protected]
W: https://www.outsourceaccelerator.com/
SOURCE Outsource Accelerator
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