The startup offers a financing platform that utilizes traditional short-term lending and B2B Buy Now Pay Later (BNPL) through virtual cards for software payments and equipment purchases. This approach enables early-stage companies to access annual plan discounts and manage cash flow by spreading payments into manageable monthly installments.
Funding
$3.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Early-stage companies often struggle with cash flow management, particularly when needing to invest in software and equipment that require upfront annual payments to secure discounts. Traditional financing options may not be readily available or suitable for these businesses, hindering their ability to access essential tools and optimize their spending.
Solution
Debite provides a financial control center designed to improve cash flow for businesses by offering corporate cards, bank-to-bank payments, expense management, invoice financing, cash flow management, and data analytics. The platform provides access to up to £500,000 in credit with limits up to 20x higher than traditional banks, enabling businesses to make corporate card payments and bank transfers, and spread costs with built-in installments. Debite also offers expense management tools to issue physical and virtual cards to team members, set spending limits, and track receipts. Furthermore, the platform facilitates invoice financing to instantly receive cash from outstanding invoices and business loans with flexible repayment plans.
Target Audience
Debite primarily targets early-stage and high-growth businesses in need of improved cash flow management, access to credit, and tools for managing expenses and payments.
Features
- Corporate cards with built-in installment plans (3, 6, 9, or 12 months) and up to 4% cashback on all card transactions for the first 3 months
- Expense management features for issuing physical and virtual cards, setting spending limits, and tracking receipts
- Cash flow management tools to manage payables and receivables with accounting software integration
- Invoice financing to receive instant cash for outstanding invoices
- Bank-to-bank payments for direct transfers to suppliers
- Business loans up to £500,000 with flexible repayment plans (6 to 60 months)
- Savings Calculator to identify potential savings by switching to annual SaaS plans
- Partner Deals providing access to exclusive deals, promotions, and cashback offers from various partners