Fintech Aiming to Help Businesses Access Cash Faster
A new Fintech, Saltare, has just launched with the ambition to help businesses improve cashflow, strengthen supply chain relationships and give more certainty over payments.
Saltare is headquartered in Bristol and employs people around the UK including Scotland. It was created because 82% of businesses fail through difficulties of accessing cash (there is currently a whopping £200bn tied up in unpaid invoices). Saltare is about incentivising buyers to pay early, and in giving them the tools and reasons for doing so.
The solution comprises mobile-led technology to allow buyers to manage their entire supply chain in a way that works for them and their key suppliers. Saltare will address the needs of some of the more challenging sectors and industries, where extended supply chain are the norm (public sector and local authority bodies through to retail and construction).
Chief Executive Anthony Persse says:
“By shifting the debate away from the negative commentary around ‘late payment’ and moving it towards a more positive conversation about ‘early payment’, we will do much more than simply improve payment performance. We will help create more jobs, deliver greater levels of investment and generate deeper social value with long-term sustainability at a time when the country needs it most.”
"Our mission is to develop a series of tools that bring the certainty of payment, and the certainty of cashflow, that support both ends of the supply chain. Bigger than this, our mission is to change the mind-set of businesses once and for all, to embrace a new approach that is simple to make, and yet will have positive consequences for future generations"