Calgary fintech Quickly has raised a $10 million seed financing round led by Thin Air Labs, with participation from Plug And Play, ATB Financial along with new and existing shareholders.
Quickly is an Early Payment Platform (EPP) provider for small and mid-sized businesses and the debt and equity financing will support recruiting efforts, US expansion, and growth for the company.
EPPs enable organizations to seamlessly integrate an early payment program into their supply chain, granting vendors access to early payments while they participate in cost-saving discounts.
Quickly has seen a 500% increase in customer adoption this year and was recently one of 12 fintech firms competing for this year’s annual Digital Commerce Bank Calgary Fintech Award.
“This financing cements the acceptance of a Canadian Founded Early Payment Platform,” said Kyle Friedman, Co-Founder and CEO of Quickly.
“We have been receiving tremendous support from the Alberta tech ecosystem and customers have been praising our solution. Why? Because waiting to be paid is a universal and global problem for B2B companies and it’s time someone takes action.”
By adopting a “buyer-first” approach, Quickly has reimagined the digital lending model for vendor financing, resulting in a win-win solution for all parties.
While Quickly remains industry-agnostic, it has gained significant traction in Canada, particularly within the construction, manufacturing, real estate, and energy sectors.
James Lochrie, Managing Partner at Thin Air Labs said, “We have been working closely with the team from Quickly for 18 months and have been impressed with how they have created an innovative business model that can significantly help the cash flow of businesses while creating a significant amount of value for their customers and the company. At Thin Air, we believe Quickly has a significant opportunity for growth while helping businesses around the world become more efficient.”
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