Photo - Cashy
51139

Cashy

B2B early payment discount platform.

Poland, Mazovia
Market: Financial services
Stage of the project: Operating business

Date of last change: 03.02.2021
Rating
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

Cashy helps buyers to address the cashflow problems of their suppliers. Buyers can invite suppliers to Cashy and give them possibility to chose optimal invoice payment date and accept the acceleration cost.
Both sides benefit from using Cashy. For early payment buyers are allocating their surplus which works more efficiently than on low-interest bank deposit. On the other hand suppliers receive and access to flexible and cheap financing without needless formalities.
Everything goes online in user frendly application.

Current Status

In 2020 Cashy completed successful 9 months acceleration program with Santander Bank Polska. We were offering our solution to their chosen clients and now we run the onboarding of 4 companies.

Now we run the business talks with 5 new clients.
According to our sales plan for 2021 we want to have at least 20 new clients and 2 new banks.

We target the larger companies with distributed supplier network as well as we can work with the financial institutions.

Market

Cash rich large companies from Poland and Europe, with distributed network of the suppliers.

Segments: retail, production, transportation.

Problem or Opportunity

Opportunity:

Buyers perspective:
- they have high surplus that can not be efficiently invested in the banks (low interest rates)
- they managed to negotiate long payment terms
- they want to stabilize their supply chain and foster the relations with the suppliers

Suppliers perspective:
- they have to wait long for invoice payment and have cash flow problems, especially in COVID times
- Banks offer them expensive financing

Solution (product or service)

Cashy is an online application with easy access of buyers and suppliers.

Competitors

Existing alternatives:
- for the buyer: reverse factoring from the bank. But its more expensive and they cannot utilise their surplus
- for the suppliers: factoring, microfactoring - more expensive, more formalized

Competitors:
- we are the only early payment discount platform in Poland
- international competition: c2fo.com, taulia.com

Advantages or differentiators

Cashy is an alternative to bank factoring because buyers become de facto factors of their suppliers, using their surplus.

Cashy offers automation of the process for the buyers (no telephones, no emails about early paymen with the suppliers).

Cashy has efficient accounting model for the suppliers, as we simply the settlement of correction invoice.



Finance

Cashy earns on success fee calculated from the cost of invoice payment acceleration.

Business model

We want to introduce Cashy to the market together with strong partners:
1. Banks - we want to use them as sales chanells. Now we cooperate with Santander Banks but we have talks with other lage Polish banks
2. Large advisory companies - among our partners there are: SAS, SAP, EY, PWC. They introduce us to their clients.
3. Local financial advisors - we work with well connected individuals to introduce Cashy to large companies.

Money will be spent on

We need new financing for constant improvement of our application as well as foropening new markets for Cashy.

Offer for investor

We will discuss it later at negotiations.

Team or Management

Edyta Musielak
Owner

Risks

From buyers perspective:
they may prefer to work with the bank instead of using their surplus for invoice early payement.

From suppliers perspective:
they may be affraid of using online solution

Incubation/Acceleration programs accomplishment

2018 - Warsaw Booster Acceleration Program for fintechs
2020 - AccelUp at Santander Bank Polska

Won the competition and other awards

2018 - we won Warsaw Booster Acceleration Program
2020 - nomination to Fintech of the year by Cashless
2020 - we want StartupCap by SAS
2020 - we were named one of 10 top fintechs in CEE by PRF Ventures

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility70
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video