Although they were seeing a lot of interest, at one point, the future of Layback looked precarious. Setbacks in the production stage caused Layback founder, Adam Cook to let go of all of his staff, and factory malfunctions cost Layback all of its seed money. They made a comeback when they appeared on Dragons’ Den and impressed all of the dragons with their simple but innovative goal: to become the household name for hammocks. With a funding boost from the show, Layback went back to production and began working to fill orders. But the pandemic forced a second pause in production. Knowing that they would need financial support to keep growing, Cook sought out the advice of a Layback investor, who recommended OKR Financial.
How did OKR Financial get involved?
At OKR Financial, we saw the dedication and passion that Cook has for the business and knew he would be successful when given the proper support. A timely injection of capital through an OKR Financial asset loan was crucial in helping Layback meet customer demand and pursue new collaborations and opportunities with a variety of intriguing partners. The OKR Financial team, armed with hands-on startup and business experience, also supported Cook with feedback, advice, and reassurance as he and his team grew the company.