Rox Technology & Solutions experienced a minor setback in 2020 during the onset of the coronavirus pandemic. The company faced a working capital shortage and required Rs 2 crore for its immediate expansion plans. Here’s how Rox Technology found itself in a bundle
- The company hit the credit limit threshold with its banking partner, making access to funds challenging.
- The process of due diligence and aligning with another banking partner seemed like an added hassle that would have taken unusually long.
- The lack of an in-house finance professional added to the company’s woes since there was no one who understood the debt market.