Splyd offers a B2B payment solution that secures trade credit transactions between contractors and building materials suppliers. It provides instant alternative credit scoring and scheduled back-to-back payments, streamlining the credit process for both parties.
Funding
Funding not disclosed
Founders
Product
Problem
Contractors in the building materials industry often face challenges in securing trade credit from suppliers due to lengthy approval processes and limited access to traditional credit scoring. This can delay project timelines and strain relationships between contractors and suppliers. Suppliers, in turn, bear the risk of extending credit without a comprehensive assessment of the contractor's creditworthiness.
Solution
Splyd offers a B2B payment solution designed to streamline trade credit transactions between contractors and building materials suppliers. The platform provides instant alternative credit scoring, enabling suppliers to quickly assess a contractor's credit risk. Splyd facilitates scheduled back-to-back payments, ensuring suppliers receive timely payments while providing contractors with flexible payment terms. This solution aims to reduce credit risk for suppliers and improve access to credit for contractors, fostering stronger business relationships and more efficient project execution.
Target Audience
The primary target audience includes building materials suppliers seeking to mitigate credit risk and contractors looking for improved access to trade credit.
Features
- Instant alternative credit scoring for contractors
- Scheduled back-to-back payments between contractors and suppliers
- Streamlined credit approval process