Lendtech innovator Grapple raises $ 6.5 million to provide businesses with “rental as a service” as they grow and scale.

Australian fintech Grapple With platform upgrades and improved funding capabilities, we have raised $ 6.5 million to expand our $ 3 billion SME billing sector footprint. Grapple will also make its state-of-the-art Lend Tech available to intermediaries and other creditors.

Grapple Following years of development, the release of a new platform for financing partial invoices and overall sales invoices is Australia’s small and medium sized looking for a conditionally ready and flexible financing solution. It is built on the feedback from the company.

“The pandemic has made cash flow management and access to funds even more important. Grapple has developed and built lending technologies and services that evolve as Australian businesses grow. The accountant is dissatisfied with the hassle of approval, paperwork and management of the current financing system. Grapple’s digital platform easily integrates into existing accounting systems to ensure an ultra-fast approval process. “Masu,” said Steve Dawson, founder and CEO of Grapple.

Grapple procurement has gained the support of prominent Australian and international investors. These include Telstra Chairman John Murren and US-based Morgan Stanley MD Adam Merino, as well as Investment Doyen and Souls Pats Chairman Robert Milner. The majority of the funds raised will be used to accelerate growth through partnerships in the sector, further product development, and additions to the current 40 strong teams.

The Grapple team has been strengthened by two experienced FinTech executives from Tommy Braas, a former NAB Technology Business Head. Tommy Braas participated as Head of Technology, with former PayPal and Facebook marketer Jarrod Baker as CMO.

Steve Dawson, founder and CEO of Grapple, worked for Deloitte and EY and how technology was used to simplify and grow comparable markets in the UK, where invoice financing is much more prevalent. After confirming, the company was established in 2017. To date, Grapple has processed over 100,000 invoices to create $ 70 million in value for Australian SMEs, giving Grapple a significant competitive advantage and helping it grow its business efficiently. Giving a way.

“We have built a great platform that is intuitive and easy to use. We used technology to automate and simplify previously tedious processes, and with data and smart integration. By making decisions more accurately than ever before, we reduce the risk to our partners and customers, ”says Steve Dawson.

“COVID hangovers are still very realistic for many Australian SMEs and are felt throughout the business ecosystem. FX movements and peak unit price changes, coupled with supply chain congestion, are felt. Accelerating the need for working capital. Inquiries about professional services, trade and SME lend tech financing in the “post-farm gate” sector are skyrocketing. They need immediate access to financing in line with businesses that banks and large lenders simply cannot offer. As an Australian-owned company, we are pleased that Grapple is an accessible solution that can help small businesses across the country, “added Dawson.

Lendtech innovator Grapple raises $ 6.5 million to provide businesses with “rental as a service” as they grow and scale.

Source link Lendtech innovator Grapple raises $ 6.5 million to provide businesses with “rental as a service” as they grow and scale.

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