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Kickpay (YC W15) Is a Marketplace for Invoices That Helps SMEs Get Paid Quickly
- stefanobernardi 12y agoHey everyone, Stefano here, one of the co-founders of Kickpay. Let us know if you have any questions we can answer!
- relaunched 12y agoSounds like a marketplace for invoice factors. I guess it's better than having to call up a factor and setup an account. But, issues like credit-worthiness determination, reserves, fees-based on credit worthiness, etc. still arise. I'd assume, initially, you'd rely on D&B or something like that to determine worthiness. Are you building a marketplace to let anyone provide money to factor? Or is this only for existing factors? Are you providing the funding, so you are the factor? There's a ton of money in this type of business. If you can make 1.5-2%, per month, on your money, that's a huge win. It's kinda predatory in the transportation business, where margins aren't great and every dollar counts. But, in higher % businesses, it's a cash flow decision. Interesting. Would love to chat more about it, if you are interested. Email in profile.
- mccaly 12y agoAndrew here. I'm one of the co-founders of Kickpay. We are enabling anyone to provide capital to purchase invoices (so it is not just for current factors). This reduces the rates (removing the predatory nature). In addition we are super focused on making it an amazing product businesses look forward to interacting with.