Kresus utilizes virtual cards to facilitate payments directly to beneficiaries IBANs, allowing businesses to defer debits for up to 90 days without requiring supplier involvement. This approach enhances cash flow management by providing immediate working capital while ensuring secure and confidential transactions.
Funding
$1.1M 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
Many businesses face challenges in optimizing their cash flow due to payment timing mismatches with suppliers, which can strain working capital and hinder financial flexibility. Traditional methods of extending payment terms often require supplier involvement and may not be suitable for all types of expenses.
Solution
Kresus offers a solution that leverages virtual cards to enable businesses to defer payment debits for up to 90 days without requiring any changes or contracts from the suppliers. Payments are made directly to beneficiaries' IBANs using virtual cards, while the business benefits from extended payment terms. This approach provides immediate working capital, enhances cash flow management, and ensures secure and confidential transactions. Kresus integrates with Treasury Management Systems (TMS) via API or SFTP for automated transfers and provides detailed information on payment debits for accurate cash forecasting.
Target Audience
The primary target audience includes CFOs, treasury managers, and finance professionals seeking to optimize cash flow, improve working capital, and streamline payment processes without disrupting supplier relationships.
Features
- Virtual card payments directly to beneficiary IBANs
- Payment deferral up to 90 days from the execution date
- Compatibility with XML or CSV files for easy operations
- Automated IBAN checks for secure transactions
- Seamless integration with Treasury Management Systems (TMS) via API or SFTP
- Real-time updates on payment debits and execution dates for cash forecasting
- Bank-level data encryption and security measures
- Data hosted in Europe