An innovative web application to empower small businesses to connect with loyal customers and investors for seamless ‘crowdfunded small business loans.
Honeycomb Credit, a trailblazer in community-based financing, has been instrumental in helping local businesses access essential growth funds. The platform has democratized investment, allowing individuals to support their favorite local establishments.
Facilitating over $13.25 Million in investments, they've supported 1,142 jobs and spurred businesses to a remarkable 60% YoY growth post-investment.
To supercharge their platform, they turned to CarbonTeq—seeking to elevate operations, optimize user experience, and amplify impact for investors and creditors."
In 2021, Honeycomb Credit made a splash by launching their product, connecting investors to dynamic local businesses. But as they aimed to scale, they faced numerous challenges:
Relying on an external platform for investment caused delays in collecting investments.
The existing system lacked flexibility for branding and personalization, affecting user experience.
Much of Honeycomb Credit's workflow was manual, resulting in inefficiencies and reduced control.
Manual processes impeded comprehensive data analysis and actionable insights.
Understanding Honeycomb Credit's pain points, CarbonTeq partnered with them to craft a platform customized to their unique requirements. This alliance brought forth transformative enhancements, encompassing:
Kicking off in August 2021, the two-year bond between Honeycomb Credit and CarbonTeq transformed from a mere web application endeavor to a powerful mission of reshaping local business financing. CarbonTeq deployed a dedicated team of experts, ceaselessly refining Honeycomb credits’ platform with cutting-edge features and peak performance. This partnership embodies the joint aspiration: elevating local businesses and nurturing community advancement.