Pencil
Company Details
- Location
- Melbourne, Australia
- Website
- https://www.pencilpay.com
- tim@pencilpay.com
- Founded
- 2017
- Employees
- 4-10
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About Pencil
Problem
53% of all credit trade invoices are paid late, causing a funding gap between providing goods or services and receiving final payment.
Solution
Pencil is a SaaS platform for wholesale suppliers and distributors. It’s the easiest way for new accounts to apply for trade credit and the fastest way for suppliers to get paid.
Differentiator
We prevent the collections domino effect from consumer to small business to supplier, helping firms keep a speedy, consistent flow of cash allows for growth and customer retention. We regulate payments over the month, removing lumpy cash flow.
Biggest Achievements
Average time to collect trade-account payments is down by 15 days to 38 days.