The trillion dollar receivables lending market get's boost from "cash on demand" online lending platform.
Surry Hills, NSW Australia - Waddle’s receivables based lending platform has uncovered an enormous opportunity to deliver data-driven innovation to a critically broken market by leveraging the data aggregated by cloud accounting providers, now referred to as the “financial web”.
Launched as Australian first to market cloud-based receivables lending platform, Waddle integrates directly with cloud accounting apps, providing ongoing, 100% automated debt capital to SMB’s effectively creating “cash on demand” for business owners needing to access capital tied up in invoices to reinvest into their business.
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Waddle created a 100% Australian made proprietary cash flow optimisation tool for cloud accounting users that leverages big data analytics; engineering and predictive modelling that is disrupting how businesses access potentially billions of dollars of capital locked up in the receivables of Australian small businesses. Waddle seamlessly links directly with accounting & banking data allowing it to deliver "real-time" revolving credit lines that eliminates major existing frustrations related to the administration and compliance associated with existing traditional lenders offering receivables lending programs both here in Australia and overseas.
Development of the platform has been ongoing for the past eight months with planning for the project starting early 2014. Waddle has been working closely with cloud accounting providers to develop transaction feeds, allowing business owners to view loan metrics such as loan balances, fees, funds available and charges right within their own accounting platform. There are also plans in place to allow users to request funds directly from within their own accounting software, adding to the "on demand" or "on-click" nature of the financing tool to give users a seamless, disruption-free experience, something that has been inherently missing in the marketplace.
The #1 pain point for small business owners is cash flow tied up in receivables, often waiting months for customers to pay invoices after they've been issued. Waddle's "cash on demand” accounting add-on closes the cash flow gaps, allowing business owners to draw down funds against newly created invoices in real-time. Once the Waddle service has been initiated data is synced between the platforms, alleviating borrowers from any further interactions to obtain funding or engage in any traditional manual processes.