Inxeption and OatFi have partnered to offer Inxeption Global Marketplace buyers extended payment terms, allowing for limits of $1 million+
Inxeption, a company in industrial e-Commerce, announced today that it has partnered with OatFi, a provider of B2B working capital infrastructure, to offer extended payment terms to qualified commercial buyers on the Inxeption Global Marketplace. With this collaboration, Inxeption users will now be able to apply for credit limits of $1M+ and seamlessly make critical supply chain purchases with financing terms in an online checkout.
This Inxeption and OatFi partnership eases the process of transaction that the consumers have become used to (through credit cards and BNPL) to the industrial sector. Industrial purchase financing is typically a complex workflow, requiring multiple internal and external stakeholder approvals, bespoke invoicing arrangements, and dynamic credit management and reconciliation processes. The commercial buyers will be able to create purchase orders for third-party products on the Inxeption Global Marketplace without having to apply for a commercial loan or make a relationship with outside financiers, thanks to this collaboration. The customer experience for buyers buying with terms remains the same as those paying by cash, as all the workflow complexity is handled under the umbrella of Inxeption managed store software.
“Our partnership with OatFi is a significant step in enhancing our offering to commercial buyers on the Inxeption Global Marketplace ”, said Karthik Nataraj, Chief Strategy Officer at Inxeption. “It’s a win-win-win: OatFi brings the balance sheet and fintech infrastructure, we bring the qualified buyers and active commerce transactions, and buyers shopping on our Industrial Drive and public sites love the flexibility it gives them to secure the best deals while managing their cash flows.”
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“We are excited to support Inxeption buyers and provide them extended payment terms as part of their online procurement experience”, said Mike Barbosa, Co-Founder & CEO of OatFi. “Many customers rely on the Inxeption platform to run mission-critical elements of their business, and providing flexible payment terms solves a core cashflow need for US customers both small and large. By pairing OatFi’s APIs with Inxeption’s industrial eCommerce software, commercial buyers and sellers will be able to conduct more of their transactions online and without friction, furthering our mission of levelling financial access for SMBs.”
Through this new integration into Inxeption’s procurement financing software, qualified buyers will be able to manage cash flows related to mission-critical, high-value purchases with payment terms up to 90 days. Traditionally, only the biggest buyers and procurement departments have had access to reliable extended payment terms across multiple vendors. By creating a digital process for underwriting, applying, and administering credit for industrial transactions, Inxeption and OatFi are democratizing access to high-quality industrial products and sophisticated business processes. Across Inxeption’s Global Marketplace, buyers can now apply for extended payment terms, receive a credit decision, toggle between repayment options at checkout, and track their usage.
The Qualified buyers will be able to manage cash flows related to mission-critical, high-value purchases with payment terms up to 90 days, all enabled by this new partnership into Inxeption’s procurement financing software. By creating a digital process for underwriting, applying, and administering credit for industrial transactions, Inxeption and OatFi are democratizing access to high-quality industrial products and sophisticated business processes. Buyers can now apply for extended payment terms, receive credit decisions, toggle between repayment options at checkout, and track their usage, across Inxeption’s Global Marketplace.
“This is the first step of many to bring a full suite of financial solutions to the industrial sector”, continued Nataraj. “We hope that, soon, all Managed Stores powered by Inxeption will have access to the same powerful payment term capabilities, enabling industrial sellers to Do Business Better. Stay tuned for more.”
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