eBev has expanded its beverage ordering platform adding a $10 million dynamic financing solution to its offering.
eBev’s currently guarantees suppliers payment within three days and can now support up to $100m in Wholesale Beverage orders (GMV). The move reflects its growing base of suppliers as it looks towards listing on the ASX early next year.
The partnership with the Cirralto group and the implememtation of the Spenda product within the eBev system brings the potential for further development of different payment solutions such as integrated Buy-Now, Pay-Later (BNPL).
Andy Hilton, Chief Commercial Officer at Spenda said, “eBev’s position as Australia’s largest and most advanced marketplace in the $8bn wholesale beverage industry makes it best placed to deliver working capital to a COVID ravaged landscape. Spenda’s unique dynamic financing solution will enable eBev and its customers to grow quickly without having to worry about working capital.”
eBev continues to build out its Fintech experience to support the strong growth of its eBev Trade product with a new Head of Product and Technology, Atul Narang and CFO, Zoran Grujic.
eBev CEO, Ian Harris, says, “In the last few weeks we have brought in Atul Narang to expand our capability in the fintech space which is critical to our growth. Atul is a former CTO of the year, and we are already excited with the progress to date.
“A significant part of setting the business up for the future is bringing in an ASX experienced CFO. We are pleased to announce that after a few months of advising the business, Zoran Grujic has joined the team to build out that capital strategy on the path to listing on the ASX next year.”
Founded in 2015, eBev has facilitated over 204,000 supplier orders through the platform and enables over $150 million of annual orders. The new eBev Trade service guarantees payment to suppliers within three days and aims to reduce credit risk whilst enabling beverage businesses to grow as beverage ordering, invoicing, and payments are consolidated into the platform.