Business Warrior Corp., a global leader in lending and marketing software empowering business growth, announced the successful completion of its audit of Alchemy Technologies (“Alchemy”) and released an update on its integration.
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“We are pleased today to announce the successful completion of our audit of Alchemy, our largest acquisition to date,” said Rhett Doolittle, Chief Executive Officer of Business Warrior. “Since the acquisition, we have integrated Alchemy’s team and technology to develop a best-in-class end-to-end lending platform that will be scalable to businesses everywhere for a fraction of the time and cost. This new solution will change the lending landscape for the foreseeable future.”
Highlights of Alchemy for the 2-year financial audit include
- $2.7 million in revenue in 2021 (January – December)
- 146% year-over-year revenue growth (2020 – 2021)
- Profits of $527,858 in 2021
For the 9-month pro forma period (September 2021 through May 2022), Business Warrior, Helix, and Alchemy generated $6.1 million in revenue. Since the acquisition, the company has focused on converting the one-time project revenues into monthly recurring payments, resulting in $100,000 per month in monthly recurring SaaS revenue. This shift provides the roadmap for a more concise timeline toward profitability for Business Warrior Corporation.
Business Warrior acquired Alchemy on June 8, 2022. The company’s strategy for the acquisition was to leverage Alchemy’s core lending technology into a scalable solution for any business that wants to be a lender. Alchemy provides cutting-edge cloud-based lending solutions for multi-tenant companies in 5 countries for over 30 enterprise clients.
The newly combined company has already streamlined the staff and operations to support Alchemy’s existing clients while developing Business Warrior’s new turnkey lending platform, PayPlan. The company remains dedicated to its existing client base and custom software development needs as it prepares for tremendous potential growth from PayPlan. The success of PayPlan means more consistent SaaS revenue growth and a much higher maximum for total revenue and profitability in the future.
PayPlan is a platform that goes beyond the traditional boundaries of typical lending solutions. It is a customizable end-to-end lending solution that provides a loan origination system, a decision engine, underwriting, and a loan management system. It has a much lower development cost, includes the integrations needed to minimize fraud and payment defaults, and turns a business into a lender in weeks rather than months.
Business Warrior has worked with more than 25,000 small businesses across the United States since the company was founded in 2014. On average, our solutions have helped businesses get over 400% return for every dollar spent, while our lending platforms have processed over $100 million in loans. The data from these loans allows us to continuously evolve and improve our offerings.
The company’s annual financials are its next filing milestone. Due to the comprehensive nature of the annual filing across Business Warrior’s multiple subsidiaries, the company requested an extension and is working on filing expeditiously.