Funding
Funding not disclosed
Founders
Product
Problem
Many businesses struggle with cash flow management due to delayed customer payments and the need to pay suppliers upfront. Traditional financing options can be inflexible, slow to access, and may not align with the specific needs of growing businesses. This can hinder growth and create uncertainty in managing day-to-day operations.
Solution
Selectpay provides a suite of financing solutions designed to improve cash flow for businesses. The platform offers Buy Now, Pay Later (BNPL) options for businesses to purchase goods and services and pay over installments, as well as enabling businesses to offer BNPL to their clients. Selectpay also offers invoice financing, allowing businesses to receive upfront payments on their invoices. Additionally, Selectpay provides growth finance, enabling businesses to pay suppliers on flexible terms, and cash flow finance, allowing businesses to pay supplier invoices in weekly installments.
Target Audience
Selectpay primarily targets small to medium-sized businesses (SMBs) across various industries seeking to improve their cash flow management and offer flexible payment options to their clients.
Features
- Buy Now, Pay Later (BNPL) for business expenses, allowing payment over monthly installments with a transparent fee structure.
- BNPL for clients, enabling businesses to offer flexible payment terms to their customers while receiving upfront payment.
- Invoice financing, providing up to 85% of the invoice amount upfront for a monthly fee, with the remainder paid when the client settles the invoice.
- Growth finance, allowing businesses to extend payment terms to suppliers by 30 or 60 days.
- Cash flow finance, enabling businesses to pay supplier invoices in weekly installments.
- Fast signup process with simple credit checks for quick access to funds.
- Flexible solutions with no monthly minimums required for invoice financing.
- Dedicated customer success team to support business growth goals.