Grapple Pay allows businesses to register on the Grapple platform and pay their suppliers upfront, while they pay over four monthly instalments. Grapple Now delivers businesses immediate payment of their invoices while providing customers with the option of paying in four monthly instalments.
Grapple’s new B2B payments products aim to meet the demand of around half of Australian SMEs who are seeking alternatives to lending that is secured by using personal property as collateral. There is an estimated USD 200 billion shortfall in the capital requirements of SMEs, as per the press release.
Company officials stated that the traditional property-backed loan is often a less efficient or accessible means of financing for many SMEs, and for others it just results in a lot of administration and a higher cost of capital. Grapple Pay and Grapple Now can be tailored to the growth trajectory of any business and allows SMEs to access smaller amounts of capital in a cheaper format, helping them grow.
Grapple’s new B2B payments solutions are proving particularly useful in emerging sectors like green energy and organic producers in cosmetics or food, according to the press release. ‘Increasing the velocity of business is good for these enterprises of course, but also benefits the overall economy.’
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