Crowdz is a competitive receivables marketplace that helps enterprises speed up cash flow, with a tool that puts money on the books in record time.
In most sectors, small and medium-sized businesses are vulnerable to cash-flow problems, with late payments inhibiting growth or even threatening survival. Crowdz is a competitive receivables marketplace that helps these enterprises speed up cash flow, with a tool that puts money on the books in record time.
A sensitive problem
Receivables are at the heart of everything small and medium-size businesses do. The speed of their payment can affect hiring, buying supplies, and making other investments. When things go smoothly, receivables give our global economy a significant boost – but every day spent waiting for payment is a missed opportunity.
Unfortunately, too many enterprising business owners spend too long waiting. They’re surviving, but that’s not enough. They want their businesses to grow, they want to hire, and they want to hit all those goals they had back in 2019 before there was even a whisper of a pandemic. There’s a dire need for businesses of all shapes and sizes to have access to alternative financing options. They need funding with metrics and risk data attached to help them make informed decisions about the right financing options.
The Crowdz solution
Crowdz is a new kind of receivable-financing platform, committed to building a one-stop business payment solution that frees up cash flow. It enables businesses to turn receivables into a marketplace commodity – giving them access to more working capital, so they can focus on making money rather than chasing it.
The company connects buyers and sellers of invoices directly through a receivables marketplace, eliminating the need to wait 30, 60, or even 90 days to receive a payment. Businesses can use Crowdz to get paid faster and earn higher profit margins on their outstanding invoices.
The Crowdz team believes that if it can improve global cash flow, thousands of micro-economies worldwide could feel the benefit. The company sees this as an opportunity for businesses to collectively invest in others, supporting a global economic recovery.
Impressive achievements so far
Crowdz has experienced steady growth each quarter, and has doubled its growth for the last five consecutive quarters. The company has now reached an exciting milestone, funding US$20 million of receivables on its platform.
Crowdz wants the world to look out for the dynamic opportunities it creates for small businesses. Its platform inspires large companies to help small companies save time and money while also operating in more sustainable ways. This is a major shift from what’s happening in most businesses today, and has far-reaching implications for the future.
As the company looks ahead, it plans to continue growing and helping more small and medium-sized businesses to thrive. Its aim is to reach US$1 billion of total receivables funded through its platform by 2023.
How being part of Rise has helped
Being part of Rise has been an important part of the company’s journey, giving it the opportunity to grow in the financial industry while helping its customers achieve their financial goals. The Crowdz team has gained an immense amount of knowledge while being part of the Rise community, about how banks and fintechs can work together.
The company has also enhanced its network, gaining access to a community of thought leaders, industry experts, and other passionate entrepreneurs. It has also been inspired by learning first-hand how other start-up organisations are paving the way and making a name for themselves.
In previous years, the award has been given to major leaders in the same field as Crowdz – companies such as Chainalysis, Shieldpay, and Trunomi. The team would be overjoyed to join this impressive list of champions.