HomeMortgageNew B2B payment solution offered

New B2B payment solution offered

[ad_1]

SME fintech Grapple is launching a new B2B payment solution to improve cash flow as small businesses and brokers seek alternative financing solutions not offered by traditional lenders. 

Grapple Pay allows businesses to register on the Grapple platform and pay their suppliers upfront, while businesses pay the money back over four monthly instalments.

Grapple Now delivers businesses immediate payment of their invoices while providing customers with the option of paying in four monthly instalments.

“The Grapple team are keen to work with brokers across the country and believe their product range and services are particularly appropriate for SMEs looking to improve their cash flow and access capital more efficiently,” said Grapple founder and CEO Steve Dawson (pictured above). “There are already more than 100 brokers on the Grapple platform. The sign-up and user experience has been simplified and is as efficient as possible for brokers.”

Dawson said brokers could enjoy Grapple’s efficient digital platform, which integrated easily into existing systems to deliver a super-fast approval process and digital administration.

“It makes accessing cash for clients from their outstanding invoices a lot easier and quicker,” he said.

Read more: Lumi’s new business loan rewards SMEs

Dawson said SME lending needs were becoming increasingly diverse and a large sector of the market remained under-serviced by the banks and traditional financiers.

“The traditional property-backed loan is often a less efficient or accessible means of financing for many SMEs and for many others it just results in a lot of administration and a higher cost of capital,” he said.

Dawson said Grapple Pay and Grapple Now could be tailored to the growth trajectory of any business and allowed SMEs to access smaller amounts of capital in an easier and cheaper format.

“Our customers are reporting that Grapple Pay and Grapple Now provide new opportunities to increase sales and growth by allowing them to increase their working capital to assist with everything from inventory management to equipment purchases,” he said. “Their customers also seemed to jump at the opportunity of paying them in instalments, often increasing the spend or purchase amounts with our businesses knowing they can pay over a few months.”

Read more: Interest-only loans putting households at risk

Grapple hosted brokers from the Newcastle and Hunter region to an information and drinks session on July 21 to celebrate the launch of its new B2B payments products. 

 The launch event coincided with the start of Grapple’s “Make Cash Flow” advertising campaign which had been trialling in the Hunter region and was now being rolled out nationally.

Newcastle financial company Prosperity Advisers Group founder and CEO Allan McKeown attended the networking event.

“It’s great the team at Grapple have begun the national rollout of their new products here in a high-growth area like Newcastle,” McKeown said.

“I think Grapple Pay and Grapple Now will be a good fit for our clients. We’d love to see more lenders like Grapple come to town.”

[ad_2]

RELATED ARTICLES

Most Popular

Recent Comments