eecrow provides a digital escrow platform that lets freelancers, SMEs, and other businesses create contracts, hold client payments, and release funds upon milestone approval. Users submit contract details, buyers fund the escrow via credit card, and payments are kept in segregated UAE bank accounts until the seller’s work is verified, after which funds are disbursed within 48 hours. The service generates revenue by charging a 5% transaction fee plus VAT on each escrow transaction.
Funding
Funding not disclosed
Founders
Product
Problem
Freelancers and SMEs often face challenges related to payment security and contract transparency, leading to disputes and delayed payments. Traditional methods lack a streamlined approach for managing contracts and ensuring secure transactions, especially in regions like MENA.
Solution
eecrow is a digital escrow platform that provides secure, milestone-based payments and transparent contract management for freelancers and SMEs. The platform ensures funds are protected through regulated payment partners and secured accounts, offering a trustworthy environment for business transactions. By streamlining contract management and dispute resolution, eecrow fosters trust and efficiency, allowing users to focus on growing their business without worrying about payment delays or contractual issues. The platform collects funds via credit card payments and securely holds them until milestones are approved, providing peace of mind for both parties.
Target Audience
eecrow primarily targets freelancers and small to medium-sized enterprises (SMEs) seeking secure and transparent solutions for managing contracts and payments.
Features
- Digital escrow service to securely hold funds until contract milestones are met.
- Integrated contract management tools for creating and managing transparent agreements.
- Milestone-based payment system ensuring payment upon successful completion of agreed-upon tasks.
- Dispute resolution mechanism to address and resolve conflicts efficiently.
- Secure fund handling through regulated payment partners and authorized banks.
- Segregated customer funds, ensuring protection from corporate liabilities.