Earlytrade CEO, Guy Saxelby on The Mentor with Mark Bouris
Sydney, 10 March 2020:
Guy Saxelby, our CEO, recently joined Mark Bouris on his podcast, The Mentor.
In this interview, Guy talks about getting trapped in New York during the famous US Blizzard of 2016, realising his one true calling, finding the calm within the chaos, inspiring him to innovate and much more.
Guy’s mission is to help small businesses access the same benefits as big businesses have always had, for cash flow and working capital. He discusses with Mark how Earlytrade is leading the way in helping larger businesses pay small businesses early and how the whole economy should work together to be more efficient.
About The Mentor with Mark Bouris
Mark Bouris speaks to business owners and entrepreneurs, finding out what makes them tick and their plans for growth. Some business owners are on the way up and enjoying new success, others are at a turning point. Mark digs into their stories and finds out why they set out to create their own path, their challenges and where they go from here. Based on his own personal experiences and learnings, he also passes on his own guidance on how to take their business to the next level.
Earlytrade is an Australian fintech company that provides a unique ethical alternative to ‘reverse factoring’ or supply chain finance.
Founded in 2016 by technology entrepreneur, Guy Saxelby and ex-ASX product manager, Piers Symons, Earlytrade owns and operates Australia’s largest early payment marketplace with over 36,000 businesses using the platform today to request early payment from their customers.
A key difference between the Earlytrade Marketplace model and other reverse factoring arrangements is that it is entirely supplier-driven. If suppliers require funding before their contractually agreed payment date, they can access an alternative source of liquidity via the marketplace at rates significantly less than bank financing, which in turn creates real value for suppliers.
Earlytrade’s Marketplace matches a committed supply of working capital from customers and the demand for early payment from all their suppliers. Unlike some platforms, Earlytrade does not mine big data or use AI to collect detailed information on the contents of supplier invoices. This is important as it allows Earlytrade’s marketplace to be neutral, with supply and demand driving rates.
Along with its core marketplace platform, Earlytrade has four other products growing in adoption including Earlytrade View, Earlytrade Verify, Earlytrade Grower and Earlytrade Fund.