Outsource Accelerator, a Philippine-based outsourcing marketplace and business process outsourcing (BPO) advisory firm, announced raising $1.5 million in special purpose fund that it will use to acquire online web assets.
The company secured a $1.2-million equity-free facility from US-based non-dilutive financing startup Capchase, with Outsource Accelerator contributing the remaining $300,000 of capital.
The company said the debt facility enables it to raise significant capital, thus fuelling its growth strategy without selling equity or diluting the 100% ownership position of its founder, Derek Gallimore.
The fresh capital will be used to acquire web assets that will add significant online traffic to the portfolio and enhance the outsourcing marketplace’s growing influence over the remote and offshore staff industry, according to the announcement.
“This equity-free funding enables us to fulfill our aggressive growth objectives through the acquisition of strategic web assets, while at the same time retaining full ownership and control of the company,” Gallimore said.
The company claims to currently generate over 1 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 $50m of new inbound outsourcing inquiries every month.
Over the last two years, the platform has seen double-digit monthly growth 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.
“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,” Gallimore added.
Outsource Accelerator expects another 30 million jobs will be offshored over the next 10-15 years as businesses become increasingly remote-friendly, globalized, 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.