Google Play and Apple App Store developers can find quick and affordable financing to continue to build out current apps as well as invest in new projects and marketing. A recent signee to the Payplant platform is a great example of an app developer speeding up app store payments for these purposes.
Palo Alto, CA December 19, 2017 – A major healthcare provider recently chose Payplant to monetize $32M in outstanding State of Illinois invoices in an effort to streamline payments and allow the essential services they provide to continue being supplied to the state.
Inpixon (NASDAQ:INPX), a leading indoor positioning analytics company, announced that it has entered into a receivables and purchase order funding agreement with Payplant LLC and replaced the existing $1.4 million loan to Gemcap. The Payplant facility will allow Inpixon increased flexibility in meeting working capital needs by processing a growing amount of commercial and government purchase orders.
Palo Alto, CA May 11, 2017 – Payplant has years of experience working with Amazon.com vendors so it was a natural fit for the newest borrower on the platform. This company sells goods used around the house in the Amazon Marketplace and needed assistance meeting cashflow supply with inventory demands. “Payplant has been working with Amazon Vendors since the day we started lending” says Co-CEO Neerav Berry. “We are able to quickly approve and onboard these vendors while offering great rates; as an added bonus, we can help them improve efficiencies since we have such in-depth knowledge of how the systems at Amazon work.”
Payplant has added a cutting edge Tech company to its roster of clients. The company makes a product that can turn any white board into a scan-able and printable surface. “This was such a unique and useful product, the process of underwriting and approving the deal was quick and painless” says Co-CEO Ronjon Nag. “We knew right away that they would be successful and we got on board with both a short-term loan and AR financing.”
Palo Alto, CA March 9, 2017 – Payplant has recently signed up to work with and assist a company that optimizes and builds cloud platform solutions for modern enterprises. Our new client removes the barriers to cloud adoption so that these companies can transform traditional computing into modern applications. “Payplant enjoys working with cutting edge technology companies that are growing at a rate that traditional financing cannot keep up with” says CEO Neerav Berry. “The process of signing up these clients is easy for Payplant because we understand where they are taking their client base and the value that they add”.
Palo Alto, CA March 1, 2017 – A cutting edge software development company that has developed proprietary content recognition technology in the advertising industry uses Payplant to finance their growth and working capital. This firm counts Comscore as one of its largest clients and they find the invoice payment terms a burden to their day to day operations as well as a hindrance to the rapid growth they can achieve with a steady payment stream. “Given the strength of their customer as well as the quality of their product, Payplant is able to give this client our best rates” says Co-CEO Neerav Berry. “We look forward to further growth as they bring on new customers”.
Palo Alto, CA Feb 10, 2017 – A software firm that supplies data to Nielsen and other large market research firms recently became a Payplant client to manage help optimize its cashflow issues. The company uses consumer panels to provide consumer feedback and data-driven insights to brands. “Our new client works to quickly build and launch new survey market research panels that and provides generate high quality data very quickly to their customers” says Payplant CEO Neerav Berry. “However, Unfortunately those customers do not always pay with the same speed so we are able to help them smooth out their cash flow issues and continue to grow.”
Palo Alto, CA Jan 30, 2017 – A marketing company recently added to Payplant’s portfolio was able to build on and increase their business with Geico after using Payplant to finance 90 day invoices so they could get money upfront to grow a long-term relationship with the large insurance company.
Palo Alto, CA Jan 18, 2017 – Payplant today announced a relationship with a specialty women’s handbag and shoe manufacturer, who has well-known customers like Nordstroms, TJ Maxx, Homegoods and Marshalls, to finance their POs (purchase orders) and invoices. Payplant was able to offer very affordable terms that enable the client to fulfill the orders profitably and on time.
Palo Alto, CA Jan 10, 2017 – Payplant announced today that it recently closed a $300K financing deal for a Chicago area specialty manufacturing company to allows them to fabricate pre-ordered machinery while offering terms to their customers.
Palo Alto, CA Nov 30, 2016 – Payplant announced today that it recently closed a $120K financing deal for a Phoenix-based software company that is a specialist in creating innovative workflow solutions. “Given the established relationship with their large customer we were able to offer incredibly competitive rates. Our client is now able to accept larger contracts and is able to grow the business without the stress of precisely matching customer receipt with payroll and other payments,” said Neerav Berry, CEO & Co-founder of Payplant.
Palo Alto, CA Nov 22, 2016 - Payplant announced today that it recently added a leading developer of popular games on Apple App Store, Google Play and Facebook to its App Developer lending program. This is a $500k line of credit which allows the app developer to continue to invest in development and marketing while it is awaiting payment from the App stores.
Palo Alto, CA Nov 8, 2016 - Payplant announced today that it recently provided a $3MM Invoice-based line of credit to an IT staffing & consulting company that has a large public company as their main customer. "We were able to offer incredibly competitive rates given the account debtor and existing payment history", said Co-CEO and Co-founder, Neerav Berry.
Palo Alto, CA, - June 30, 2014 - Payplant today launches its digital, on-demand Pay Me NowTM invoice-financing service aimed at helping businesses and App developers obtain fast and dependable funding. Businesses can get cash for their invoices as needed by using Payplant’s proprietary Invoice Scoring and workflow engine. Payplant is also partnering with state governments, starting with Illinois, as well as large companies to help vendors frustrated by persistent slow payments.
June 30, 2014- Payplant’s digital Pay Me Now invoicing-financing service launching today has been approved as a Qualified Purchaser to the Illinois Vendor Payment Program to help thousands of vendors owed billions by the State of Illinois. Payplant can give vendors the cash they are owed at no cost - the State actually pays the interest due to Payplant per the State’s Prompt Payment Act. Capital for purchasing the invoices is provided by the associated Payplant Alternatives Fund which expects to lend $100 million in the next year.