The startup offers an online netting platform that automates the management of accounts receivable and payable by facilitating the acceptance or rejection of netting deals. This technology accelerates payment processing and eliminates unnecessary transaction fees, enhancing cash flow for businesses.
Funding
$2.6M 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, especially those with extensive supply chains or numerous transactions, face challenges in efficiently managing accounts payable and receivable, leading to delayed payments, increased transaction costs, and strained business relationships. Traditional netting solutions are often limited to closed groups, specific ERP systems, and scheduled netting cycles, resulting in suboptimal opportunities for cost savings and working capital optimization.
Solution
Troc Circle offers a universal netting platform that automates and streamlines the management of accounts payable and receivable by facilitating the offsetting of invoices between multiple parties. The cloud-based platform integrates with various ERP and accounting systems, identifying circular and chain netting opportunities in real-time. By enabling businesses to simultaneously pay and get paid without the need to move money, Troc Circle reduces debt, cancels FX fees, accelerates collections, optimizes working capital, and improves terms with suppliers.
Target Audience
Troc Circle targets businesses with numerous transactions, including those in the insurance, football transfer, and automotive industries, as well as financial institutions, factoring firms, and open marketplaces seeking to optimize supply chain financing and offer debt relief tools to their customers.
Features
- Automated invoice uploading and extraction via API integrations with major ERP systems
- Algorithm-driven identification of circular and chain netting opportunities across a network of businesses
- Customizable netting parameters, including supplier/client inclusion/exclusion, date ranges, and currency preferences
- Real-time notifications of netting opportunities with review and acceptance/rejection options
- Automated receipt generation and distribution upon deal acceptance
- Integration with digital payment gateways for e-invoices
- Mobile applications for iOS and Android
- KYB (Know Your Business) compliance for secure platform participation