A SaaS Lending Story:

Etail Solutions

Located in Arden Hills, Minnesota, Etail Solutions has been connecting merchants and brands to a single integrated platform since 2010. Etail provides a full suite of services to sophisticated online sellers selling on Amazon, eBay, Walmart, and other marketplaces. The company helps retailers to integrate and automate their sales and supply chains. It’s the platform that fuels the growth of multiple Amazon Top 10 sellers.

saas case studies

Learn more about Etail Solutions

The Challenge:
Looking to grow its team and marketing, Etail Solutions began exploring options for non-dilutive debt financing that would flexibly meet its needs and support the growth of the company.

The Solution:
Etail and River SaaS Capital began working together to create a funding solution that supported its goals and current revenue.

The Result:
Etail was able to successfully build out its account management and sales teams while also expanding its marketing capabilities.

The Challenge

In late 2017, Etail Solutions began exploring its options for growth capital. The company’s primary interest was in obtaining funding for talent acquisition — specifically to help build out senior-level account management and sales teams. Additionally, growth capital was needed to fund strategic marketing initiatives such as trade shows — a great way for SaaS companies to capture top-of-funnel leads and establish new strategic partnerships.

One critical component of the search criteria was a funding solution that wouldn’t result in equity dilution and would also be flexible enough to support future funding rounds as the company scaled up for growth. Etail found this solution in the non-dilutive venture debt financing offered by River SaaS Capital.

“We appreciate their flexible structure and ability to invest with us over time. We look forward to a very successful relationship with the River SaaS team.”

The Solution

Throughout the application and due diligence processes, River SaaS worked closely with Etail’s leadership team to coach the organization on SaaS growth strategy, building a sticky recurring revenue stream, and managing contracts as well as leases. Assistance was also provided to Etail in the development of new growth strategies as well as the identification of savings opportunities for its hardware.

River SaaS also helped establish new relationships for Etail, providing introductions to other industry SaaS companies and potential service providers that could help them extend the capability of their platform.

The Result

River SaaS provided non-dilutive venture debt funding to Etail in Q2 of 2018 to help the company accelerate its hiring and marketing initiatives. Supporting Etail’s need for flexibility, additional venture debt funding was provided in the form of tranches — a portion of a loan that allows borrowers to pay less interest over the life of a loan — to help Etail maintain progress toward achieving its goals.

“We’re excited to have Etail join our portfolio,” said Wendy Jarchow, Chief Investment Officer of River SaaS Capital. “Michael and his team have created an impressive product and organization, and we look forward to helping them accelerate their growth.”

“We’re thrilled to establish a partnership with River SaaS Capital,” said Michael Anderson, CEO at Etail Solutions. “We appreciate their flexible structure and ability to invest with us over time. We look forward to a very successful relationship with the River SaaS team.”

Looking for Growth Capital?

If your company is considering its growth capital options and can relate to the scenario in this case study, we’d enjoy an opportunity to speak with you and learn more about your SaaS platform. Contact us today to learn more about our funding solutions.

Ready to learn more about how River SaaS Capital can help you grow your business? Let’s talk.

Michael Kennedy

Chief Executive Officer, TruWest Companies

Mike Kennedy is CEO of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies. He began his business career with the Burroughs Corporation (now Unisys), before co-founding L.D.I. Corporation, a computer distributor and leasing company that grew to $75 million in sales by 1987, when it went public.

Under Mike’s leadership as President and COO, L.D.I. increased sales to $350 million by 1994, when it was acquired by NationsBank. Prior to the sale, he led a management buyout of several company divisions to form a new company called MRK Technologies. In 2000, Mike expanded again with the formation of MRK Leasing, later rebranding as River Capital Finance.

Matthew Kennedy

Co-Managing Member, TruWest Companies

Matt is president of River SaaS Capital’s parent company, River Capital Finance and Co-Managing Member of TruWest Companies, the parent organization of River Capital Finance. In these roles, he is responsible for the development and implementation of high-level strategic sales plans to drive revenue and ultimately increase market share.

Matt founded River SaaS Capital to help founders grow their dreams while protecting their ownership.

Sean Kennedy

Co-Managing Member, TruWest Companies

Sean Kennedy is a Co-Managing Member of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies.

Sean began his career with MRK Technologies and in 2004, founded TRG, then a provider of refurbished equipment to the AIDC and mobile technology market. He has since transformed TRG into one of the largest hardware, software and solutions providers in the mobile computing, barcode, POS and payment processing industries. Sean is a 2002 graduate of Ohio University with a B.A. in Communications.

Wendy Jarchow

Chief Investment Officer, River SaaS Capital

Wendy is Chief Investment Officer of River SaaS Capital. She leads the company’s due diligence and lending activities to help growing SaaS businesses fund their growth plans with non-dilutive capital and manages the company’s portfolio of loans.

Wendy has over 20 years of experience working at large financial institutions and venture funds where she has held diverse business roles, including business development, risk management, access to capital through venture investing, and strategic planning and implementation. Prior to joining River SaaS Capital in June 2016, Wendy was a Venture Partner at JumpStart, a Northeast Ohio Venture Development Organization where she assisted client companies with developing funding strategies and secured capital for both start-ups and scaleup businesses.

Joe Granzier

Chief Development Officer, River SaaS Capital

Joe is Chief Development Officer of River SaaS Capital. He manages River SaaS Capital’s investor relations and devises strategies for fund growth.

Before joining River SaaS, Joe spent over 30 years in high-net worth portfolio management, corporate retirement plan consulting and education funding strategies. He has worked for both public financial conglomerates as well as smaller boutique investment firms and has been a participant in the esteemed Securities Institute Association (SIA) at the Wharton School of Business, University of Pennsylvania.

Joe holds multiple industry licenses (6, 66, 7, life, health, LTC) and is a certified Accredited Investment Fiduciary (AIF).

Chris Free

Chief Financial Officer, TruWest Companies

Chris Free is Chief Financial Officer of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies. Chris joined TruWest in 2018 with over 14 years of experience in financial management, mostly recently serving as Chief Financial Officer at Sandridge Foods, a family-owned leader in the fresh food manufacturing industry. Chris has also served as Group Controller and Manager of Financial Planning & Analysis at Nordson Corporation and has experience in a variety of roles at Ernst & Young LLP. Chris earned both his master’s and bachelor’s degrees in accounting from Miami University.

Joseph Yanoska

Chief Information Officer, TruWest Companies

Joseph Yanoska is Chief Information Officer of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG Solutions, MRK Technologies and Sibling Revelry Brewing. He is a technology veteran with a background in the online social expression and banking industries. Joe helps our portfolio investments as a technology mentor. He strategizes along with your team on development roadmaps and security assessments. He would love to help you scale your technology to grow with your business.

Tara Lavelle

VP of Marketing

Tara Lavelle leads marketing for River SaaS Capital, MRK Tech, and River Capital Finance since 2020. Most recently Tara lead marketing at CardinalCommerce, a high growth Fintech SaaS business culminating in the sale to Visa.

Seed Stage Companies

Seed stage companies are generally pre-revenue or are not generating enough monthly recurring revenue (MRR) to qualify for venture debt.

But if you are generating at least some MRR and showing signs of product/market fit, we would love to talk about how we can help.

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Growth Stage Companies

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Scaling Companies

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As you continue to scale your business, find out how a partnership with River SaaS can help you enter new markets, onboard critical talent or expand your sales and marketing efforts.

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