We are a platform that connects buyers and sellers of electronic invoices in a digital way. We are currently in Colombia, but we are expanding to Mexico.
Our focus is to work around embedding finance, connecting with software vendors to negotiate the electronic invoices as they are created, using our proprietary algorithms of risk assessment.
We don't take risks, we just connect buyers and sellers but with our models we help buyers assess faster the clients and we are able to integrate directly with their internal systems.
We are an ongoing business. We have 700 clients registered. We have traded more than 8 million dollars in invoices.
We are focused on SMEs, however we are enrolling big companies that are finding billy as a technological allied. In Colombia, exist around half million companies that issue electronic invoices. 95% of them are SMEs.
Problem or Opportunity
Working capital access for SMEs.
Solution (product or service)
We have a platform where SMEs issue or upload and electronic invoices, and under an auction system buyers make an offer and buy the electronic invoice. We are focused on SMEs unattended by traditional financial system.
WE have around 5 big competitors in Colombia. Right now they are traditional companies that are trying to move their business into a digital platform, however they have more traction and more clients. Their volume of transactions is very similar, they are negotiating around USD 30 million dollars per month. We are currently negotiating USD 1.5 million dollars.
Advantages or differentiators
We are the only 100% digital company right now. We are the only ones working in embedding finance strategies and our focus is in SMEs, it means traditional factoring transactions, not on confirming.
We charge 0,4% of every transaction. 0,2% to the buyer and 0,2% to the seller. We want to reach an annualized income of one million dollars in a year an a half. We calculate a TAM of USD 100 Billion in electronic invoices, and in five years our target is to obtain the 10% of the market.
Our business model for this year is two focus on two main activities. One, we have created alliances with chambers of commerce to gain access to the companies registered during webinars and special events of promotion of billy. Two, we are working on embedding finance strategies to connect with software vendors through our proprietary API, right now we just closed one deal with the company with the highest number of clients, and we are working in two more allies.
Money will be spent on
30% growing our team 40% expanding functionalities of the platform and 30% in user acquisition.