The startup offers a cloud-based B2B platform that enables companies to invest their cash reserves directly into their supply chain by facilitating early invoice payments. Its application allows businesses to securely upload approved invoices, manage bidding processes, and access discounts for prompt payments, improving cash flow and supplier relationships.
Funding
$14.9M 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.
BMNPSCFounders
Product
Problem
Many companies face challenges in optimizing their working capital and maintaining healthy supplier relationships due to lengthy payment cycles. Suppliers, especially subcontractors in industries like construction, often experience cash flow constraints due to delayed invoice payments, impacting their ability to operate efficiently.
Solution
Earlytrade provides a cloud-based B2B platform that facilitates early invoice payments, enabling companies to invest cash reserves directly into their supply chain. The platform allows businesses to upload and manage approved invoices, set payment limits, and offer dynamic discounts for early payments, improving cash flow for suppliers and generating cost savings for buyers. Earlytrade offers tailored solutions for both enterprise and construction sectors, including features for managing progress claims and ensuring compliance with regulations. By automating early settlement negotiations, Earlytrade helps businesses strengthen supplier relationships, reduce procurement risks, and improve overall financial performance.
Target Audience
Earlytrade targets general contractors, enterprise businesses, and their suppliers, particularly subcontractors in the construction industry, seeking to optimize working capital, improve cash flow, and strengthen supply chain relationships.
Features
- Dynamic discounting program that matches subcontractor discount offers with excess working capital from general contractors.
- Customizable, cloud-based supplier portal that integrates with existing ERP systems.
- Automated early settlement negotiations to combat cost escalation and accelerate cash flow.
- Progress Claims solution built on blockchain for streamlined and transparent claims management.
- Tools for managing variations, compliance documentation, and communications within the platform.
- Localized software features tailored for specific jurisdictions, including the US, Canada, UK, Australia, and New Zealand.
- Integration with major construction ERP providers like Viewpoint, JDE, Cheops & Coins.