InstaSupply Joins Sweetbridge Alliance Network as Reseller of Invoice Financing for Supply Chains
London, UK — 17 September 2018 — Sweetbridge Alliance Network, the worldwide organization driving liquidity and transparency for global supply chain networks, today announces it has added InstaSupply, known for digitizing and financing supply chains for mid-sized businesses using blockchain, to its Network and named it an official reseller of Sweetbridge protocol technologies.
Through this collaboration, Sweetbridge’s liquidity protocol will provide low-cost access to capital for the InstaSupply customer base of mid-sized (companies averaging roughly USD $30M to $2B annual revenue) buyers and suppliers located around the world. As a reseller of the Sweetbridge Liquidity Protocol, InstaSupply can instantly settle supplier invoices, enhancing its current solution.
The cloud-based InstaSupply service, which currently serves thousands of businesses and settles over tens of millions a year in transactions, can now call on Sweetbridge protocols to offer companies and their suppliers access to low-cost capital with better terms and better responsiveness and functionality than is currently available through traditional banking resources for trade finance.
Lee Pruitt, CEO of InstaSupply, said: “Sweetbridge’s blockchain liquidity protocol enables us to offer the most competitive supply chain finance solution to SME businesses. This is a massive differentiator compared to traditional financial institutions and incumbent technologies, and is a game-changer for us and the suppliers we work with.”
“Over the course of the past few months, I got to know the team at Sweetbridge extremely well and we discovered clear synergies for our technologies. Based upon our shared vision for faster, fairer and more liquid supply chains, we felt it made perfect sense to work together and form an alliance of this kind.”
Scott Nelson, Chairman & Founder of Sweetbridge, said: “Given Lee’s impressive history in business supply chains and InstaSupply’s extensive network of business customers, Sweetbridge’s liquidity protocol was a logical fit for those organisations looking to be paid instantly on better terms. We are looking forward to finding a better way for these supply chain SMEs to transact, and more importantly, for delivering a business model for the future”.
The two parties will leverage the complementary relationships of the Sweetbridge Alliance Network of leading blockchain technologies. This includes the membership and support of the Accord Project, providing programmatic legal contract functionality to support blockchain smart contracts, and Mattereum, a legal-technical interface for blockchain agreements and dispute resolution on the network.