Stenn, the leading digital platform specializing in working capital, has joined forces with Payyd, a pioneer in dynamic payments technology.
This partnership aims to catalyze growth for Indian exporters by providing seamless access to innovative invoice financing. By converting outstanding invoices into immediate cashflow, Stenn supports Payyd’s customers in enhancing their financial agility while engaging in international trade.
The collaboration between Stenn and Payyd offers a straightforward, two-step process accessible via the Payyd dashboard, allowing exporters to effortlessly manage their finances across borders. This initiative not only simplifies the financial landscape for exporters but also ensures greater control over their cash flows.
Pete de Souza, VP of Partnerships at Stenn, criticized the conventional financing methods for global exporters as inadequate. He highlighted, “The traditional financing process for the world’s exporters simply isn’t fit for purpose – it’s lengthy, complicated, and overly technical.
“India is at the heart of global trade and businesses need to be able to scale their operations quickly to meet customer demand, but they can’t achieve that if they’re hindered by late or slow payments. In partnership with Payyd, we’re offering an alternative route to liquidity, and delivering financial flexibility and security, whilst ultimately giving the customer choice.”
Stenn provides a non-recourse, single fee model that offers flexibility for exporters to access capital when it is most crucial. Payyd facilitates easy onboarding and access to financing, enhancing service offerings for underserved Indian exporters.
Nagarajan Rao, Founder & CEO of Payyd, expressed enthusiasm about the partnership: “We are excited to be partnering with Stenn. At Payyd, our mission is to enable underserved Indian exporters access to competitive and market leading services.
“We have built world-class payment capabilities for our exporter base and now with the addition of Stenn as our dedicated financing partner, exporters across India and beyond can avail a trusted facility, when many have no option at all. We continue to put our customers at the heart of our business and enable solutions to drive financial inclusion.”
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