Meet Pilon! This Singaporean startup just raised a $5.2M seed led by Wavemaker Partners to help businesses access financing when they need it — and much more.

• Founded in 2020, they work with banks and financial institutions in SEA to digitize the factoring process and help businesses access, predict and manage their $$$!

Investor check. Octava and Polaris Kin also joined in!

• The round was a mix of debt and equity.

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🤨 WTF(actoring)?

Factoring is when a business sells its accounts receivables/invoices (aka, the money buyers owe as payment for a good/service).

• Businesses do this to access quick cash (aka, more cashflow) instead of having to wait for ages or having to rush the buyer to pay them.

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✅ How it works

Win-win. Their different solutions allow both buyers and SME suppliers to increase cashflow and level up their businesses. Just access Pilon on the web or their mobile app!

• These SMEs are usually excluded from traditional financing, but this changes that.

Invoice financing. Suppliers can instantly access the payments buyers owe them — while still giving buyers time to pay it off.

• Forget all the manual work. Easily access and track the invoices you're owed, and pick one or more invoices you want to get financing for and when you want to receive the $$$.

Give them all the time they need. Buyers (yup, your customers) will like you since you aren't rushing them to pay!

• Make that relationship even better. They'll love you because you can now give them up to 120 days to pay.

Thanks to the tech. Speed things up by automating transactions, and their tech will help you make sure there is zero fraud — say bye to double or fake invoices.

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💥 What's next

They'll be doubling down on improving their products and growing their presence in the Philippines and Cambodia. Oh, and watch out! If you're in Vietnam, Thailand or Indonesia, they might be coming to you this year.