Our support helped campervan-rental business Apollo pivot to attract domestic customers during COVID-19.
Apollo is a global motorhome, campervan and caravan rental business, operating in Australia, New Zealand, Canada, Europe, the UK and the US.
Apollo manufactures, builds and retails motorhomes, as well as renting holiday vehicles. They also sell end-of-life assets through their wholesale and retail network.
The border closures in March 2020 meant Apollo lost their international travel customers overnight, which represented 80% of their business.
To survive, CEO and Managing Director Luke Trouchet said the business needed to act fast. That’s when they decided to focus on domestic customers instead. To do this, Apollo needed additional finance to help cover working capital costs.
“Because of our motorhome assets, we’ve typically financed the business through asset finance,” explained Luke. “But we were staring down the barrel of potentially not having enough working capital if the pandemic continued for a couple of years.”