Cashflow.io is a B2B back-office solution that gives SMEs greater control over their cashflow. Our easy-to-use cloud-based tools allow users to eliminate late payments and win more business. By making it as easy as possible to move money and secure financing, we give business owners the confidence to navigate turbulence and seize every growth opportunity.
Based out of our headquarters in Montreal, our mission is to empower SMEs with the cash flow and confidence to grow.
With over a decade in the payment services industry, Ray is an innovative sales-oriented professional with extensive key account management experience. He is responsible for developing our business customer onboarding processes and strategic partnerships key to our growth strategy.
2020 - Start
In early 2020, we got started developing a user-friendly virtual terminal for accepting credit card payments. We successfully addressed known business customer pains and continued to listen. We quickly learned that business owners were happy to send payment requests with multiple payment methods, but tired of chasing late payments.
2020 - Late Payments
In late 2020, we examined where the chase for late payments starts. The first obvious observation was that payment is always considered the last step of a business transaction. Big mistake! The second was that the disconnect begins after sending an invoice, a request for payment. The third was the existence of extended payment terms in an era where customers have an abundance of credit options. Why do suppliers have to extend an additional credit to their customers?! The stats show that 50% of all invoices are paid late and often up to 14 days later. The system is broken.
The conventional business culture to accept "a late payment is better than no payment at all” and “hold on to the cash as long as possible” is not going to change over night. We created flexible features that did not force business owners to do business differently, but rather a toolbox to do business any which way. We introduced eQuote, payment requests and pre-authorized debit tools. All these tools combined, results in unprecedented DATA & VISIBILITY into business transactions.
In partnership with lending partners, we will offer our business customers quick & easy access to more value added services and short-term financing options to boost our customer’s cash flow.
2022 - Forward
We expanded our cashflow-boosting toolbox to allow SMEs to send, receive and finance customer orders. With many thousands of business transactions now having been made through Cashflow.io, we've been able to turn customer feedback into a more powerful and flexible terminal.
As of our 2022 launch, our customers are able to move money digitally, keep track of outgoing payments, monetize their receivables and secure game-changing cash advances all from the same platform.