Supply Pay is a cross-border fintech platform that utilizes data analytics to assess the financial health of U.S. importers and Latin American exporters, facilitating the purchase of accounts receivable to provide immediate cash flow. This addresses the lack of affordable financing for small farmers, enabling them to meet operational expenses and invest in business growth.
Funding
$250K 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
Small and medium-sized Latin American farmers who export fresh produce to the U.S. often lack access to affordable and timely financing options. This restricts their ability to cover operational costs and invest in business expansion, hindering their growth potential in the global market.
Solution
Supply Pay is a cross-border trade finance platform that provides liquidity solutions for U.S. importers and Latin American exporters. The platform leverages data analytics to assess the financial health of both parties, enabling the purchase of accounts receivable from exporters. This allows farmers to receive immediate cash flow, improving their financial stability and enabling them to meet their financial obligations. Supply Pay streamlines the process of invoice factoring, reducing cash conversion cycles from months to hours.
Target Audience
The primary target audience includes small and medium-sized Latin American farmers exporting fresh produce to the U.S., as well as U.S. based importers seeking to streamline their accounts payable processes.
Features
- Data-driven risk assessment of global buyer and supplier relationships
- Purchase of accounts receivables to provide immediate cash flow to suppliers
- Fast approval times, typically less than 36 hours
- Management of accounts payable for importers in one centralized platform
- Reverse factoring capabilities to extend payment terms for importers