October 10, 2023
Quickly, the Early Payment Platform (“EPP”) provider for small and mid-sized businesses (“SMBs”), has raised $10 million CAD in debt and equity for its seed financing. The round was led by Thin Air Labs, with participation from Plug And Play, ATB Financial along with new and existing shareholders. This financing will support recruiting efforts, US expansion, and growth for the company.
Quickly enables organizations to seamlessly integrate an early payment program into their supply chain, granting vendors access to early payments while they participate in cost-saving discounts. This solution has garnered widespread acclaim among Canadian customers, evident in a remarkable 500% increase in customer adoption this year.
“This financing cements the acceptance of a Canadian Founded Early Payment Platform,” said Kyle Friedman, Co-Founder and CEO of Quickly. “We have been receiving tremendous support from the Alberta tech ecosystem and customers have been praising our solution. Why? Because waiting to be paid is a universal and global problem for B2B companies and it’s time someone takes action.”
James Lochrie, Managing Partner at Thin Air Labs said, “We have been working closely with the team from Quickly for 18 months and have been impressed with how they have created an innovative business model that can significantly help the cash flow of businesses while creating a significant amount of value for their customers and the company. At Thin Air, we believe Quickly has a significant opportunity for growth while helping businesses around the world become more efficient.”
By adopting a "buyer-first" approach, Quickly has reimagined the digital lending model for vendor financing, resulting in a win-win solution for all parties. While Quickly remains industry-agnostic, it has gained significant traction in Canada, particularly within the construction, manufacturing, real estate, and energy sectors. The financing will enable the company to extend the reach of its successful technology into the United States through new and existing customers.
"Committed to supporting the growth of the Alberta and broader Canadian business ecosystem, ATB is pleased to announce our partnership with Quickly," said Marc Rancourt, Director of Diversified Industries, Growth and Innovation for ATB Financial. “Quickly is addressing the cash flow challenges faced by growing businesses in Alberta and across Canada through its innovative supply chain financing technology. Coupled with a proven credit adjudication process, Quickly can acquire valuable short-term assets in exchange for offering immediate liquidity.”
Quickly's roster of corporate partners has expanded substantially, thanks to its unwavering dedication to buyers and its seamless integrations with top accounting software solutions.
To discover more about Quickly’s Early Payment Platform, visit their website at www.helloquickly.com
Quickly is an Early Payment technology that is revolutionizing the way businesses manage their working capitals. Our cutting-edge software empowers companies to unlock cash flow efficiencies like never before. Suppliers can now request early payments on approved invoices and receive funds on day one, while buyers continue to pay within their regular payment terms. This means suppliers get the liquidity they need, when they need it, and buyers maintain their cash reserves.
To learn more, visit www.helloquickly.com
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