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01 Aug 2022

Making money move faster in B2B marketplaces with embedded finance: Troc Circle

“At Troc Circle, we aim to help businesses unlock capital stuck in inefficient payment supply chains. Now, with Weavr on board as our strategic partner, we’re able to offer this service as a seamless, digital product.” – Fares Hobeiche, Co-founder and CEO at Troc Circle.

The Challenge

Cash flow interruptions are often the cause of disruption to normal business activity and are sadly an issue felt across all sectors. With capital tied up in supply chains and no way for it to be unlocked, businesses are having to take out high-interest loans or delay payments to suppliers, ultimately leading to damaged relationships.

There are currently trillions of British pounds trapped within inefficient global supply chains, which is where Troc Circle’s innovative-netting solution comes into play. The solution is helping to remove gridlocks within the business world, by offsetting receivables and payables but without the need to move money around.

Troc Circle recognised that to maximise the number of businesses their offering could support with the issue of capital stuck in payment chains, they needed to partner with a provider who could facilitate fast, low-cost and secure payments needed to transform the ‘chain’ into a ‘circle’. With the circle connected, chain netting could begin – whereby the number of transactions required would be reduced and the collection of payments from all players would be accelerated.

Troc Circle understood that to offer this support, it needed to provide a solution that also offered virtual-card-payment features and so they set out to find a key strategic technology partner to help its development.

The Solution

From the initial conversations with Weavr, Troc Circle quickly realised it had found a provider that could help turn its idea into a market-ready solution. With Weavr’s help, the company’s payment-chain-transformation concept was translated into a powerful service. As a result, the automated solution allows businesses to eliminate existing supply chain inefficiencies and helps deliver low running costs.

In addition to this, Weavr also improved aspects of Troc Circles KYC and compliance, which are both fundamental aspects of offering financial-services capabilities. In all, Weavr’s Plug-and-Play Finance model offers quick-to-deploy financial-services capabilities while taking care of the compliance and regulatory burden.

One to watch?

Once this integration is completed and Troc Circle’s solution is finally live, the field of supply chain payments will forever be altered. Estimates reckon the solution will reduce invoice processing costs by around 80% and will make the process more than ten times faster.

For users, this will mean more working capital can be released when it’s needed and similarly, businesses will soon be able to negotiate better rates with suppliers by ensuring earlier payments. The solutions netting feature will also ensure transactions are completed at live market rates, which will be particularly beneficial for customers who operate across multiple currencies.

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