Getting to know HEALiX
HEALiX was founded in 2019 by Michael Browne. Michael had an interesting background that led to creating HEALiX: he was working in mental health services while also pursuing a career as a professional athlete. Unfortunately, he suffered a concussion in 2018 and was forced to leave his athletic career in his rearview. His employer at the time was not supportive of his recovery, so he found himself at a turning point, unable to go back to his previous professional and personal interests and in need of a new venture.
Michael was always passionate about wellness, and began investigating getting into business despite not having a past grounded in sales, marketing, or business development. He discovered infrared as a healing modality and was sold. HEALiX’s inaugural product is an infrared sauna blanket. Michael believes deeply in education and research, and has invested in supporting his product with educational content in the wellness industry.
Revenue tripled year over year with Onramp Funds
HEALiX was seeking working capital in 2022 and felt confident moving forward with Onramp due to Onramp’s deep background in shipping and eCommerce. HEALiX needed capital to secure inventory at the time as their ability to acquire inventory was becoming a bottleneck in their business’ growth.
“Onramp understood where we are, what our needs were, and it just aligned with our business model, really. It's nice and refreshing to know Onramp understood what we were doing and I wouldn’t have to explain our model,” Michael voiced on deciding to partner with Onramp for funds.
HEALiX has since accepted 8 advances of working capital from Onramp. The average dollar amount advanced has increased 140% from the first loan HEALiX received. Since partnering with Onramp, HEALiX has tripled their revenue.
Michael said, “The process was different from other lenders. I mean it was quicker. It was faster. And more personable. That should be up there. It was way more personable.”
How HEALiX allocated their capital
HEALiX allocated about 90-95% of their working capital towards inventory, and about 5-10% of the capital towards marketing and video production.
What's next in wellness
HEALiX’s mission is to help people realize their body’s ability to thrive. They want to continue educating and enabling their customers to live a healthy and well life, and Onramp will be by their side to fuel their growth.
“Without Onramp, my business would be much smaller," Michael shared.