Heck Food Continues Phenomenal Revenue Growth With Help From C2FO

C2FO is a source of low-cost, convenient working capital for the UK-based sausages producer.

What is Heck Food?

Based in North Yorkshire, UK, Heck Food is a family-owned sausage producer that has recorded massive growth with its high-quality, small-batch offerings, which include meatless options. 

“We make premium sausages, burgers, meatballs, and we are available in almost all the major retailers,” said Samuel Mawa, Heck’s head of finance. 

Since the brand officially launched in 2013, consumers have responded strongly to Heck’s lineup of products. 

“When I joined in 2016, turnover was about £10 million,” Mawa said. “But now we are turning over almost £25 million to £30 million.”

Heck Food’s challenge

While Heck Food is enjoying phenomenal growth, it has taken a great deal of working capital to fund the investments that make that success possible. 

“Cash flow is very important because that underpins everything,” Mawa said. “So I have to make sure that I don’t run out of working capital.”

Heck Food can and does use traditional lenders, but the finance chief was looking for a better, more convenient option. 

“We used to try and get loans from the bank,” Mawa said, “but it’s cumbersome.”

Why Heck Food chose C2FO

One of the company’s directors introduced Heck Food to C2FO, the industry leader in working capital solutions. 

C2FO’s platform makes it possible for suppliers like Heck Food to get paid much earlier — 32 days, on average — in exchange for giving their customers a small discount on their invoices.  

Here’s how it works: Major enterprises select which invoices they might be willing to pay early and load them to C2FO’s platform. 

Suppliers are then notified when one of their invoices has been uploaded. The suppliers can log in to C2FO and decide how much of a discount they are willing to offer for early payment. If approved, those invoices are paid within days.

How C2FO helped Heck Food

Funding for new business investments

C2FO has been particularly useful when Heck Food has undertaken major capital investments, like constructing a new purpose-built facility.

When necessary, Heck Food could increase its cash on hand by asking its customers for early payment.

“We could go in and draw down as much as we could to help with the working capital for the project,” Mawa said. 

Ease of use and flexibility 

C2FO’s platform practically runs itself. Users can automate their requests for early payments with a standing offer that is applied to any new invoices that are loaded to the platform. 

“You don’t have to go in every day,” Mawa said. “You just set up and then select that automatic button so that whatever is available will be processed.”

But users retain the power to start and stop using C2FO whenever they decide: “If we don’t require it, we can turn it off,” Mawa said. 

Greater visibility = greater ability to plan 

Two of Heck Food’s biggest customers provide early payment through C2FO’s platform. That is a huge benefit to the company because, in a single interface, Mawa can track the status of Heck Food’s biggest, most important invoices and how much funding they’ll be able to provide. 

“Having more than one customer on this (platform) makes it easier for our cash flow planning,” he said. 

The results

Today, C2FO has become an essential part of Heck Food’s financial toolbox. 

“We still use other forms of funding, but it’s very handy to have C2FO,” Mawa said, “because of ease of accessibility and also the interaction with the account manager, who will let us know what is going on regarding the availability of funding.”

Take control of your cash flow with C2FO

Tired of waiting 60 or even 90 days to get paid? Learn how C2FO accelerates payment on outstanding receivables.