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Earlytrade signs multi-year deal with Asahi Beverages
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Sydney, 10 September 2019:
Earlytrade is pleased to announce it has signed a multi-year contract to manage and operate an Early Payment Program for Asahi Beverages in Australia and New Zealand. The deal will see Asahi Beverages offer Earlytrade to their suppliers in the region, commencing with the Asahi Lifestyle Beverages business. The deal gives Earlytrade a leading position in the Food and Beverage sector in Australia and New Zealand now with Lion, Beston Global Foods and Asahi Beverages signed up to the Earlytrade Marketplace.
Stephan Anderson, General Manager - Group Growth and Efficiency Projects at Asahi, said "Asahi Beverages is excited to offer an innovative solution to our suppliers which promises significant benefit to both our company and our suppliers. As we work to continuously improve our partnerships and relationships with suppliers, Earlytrade’s proven performance in market became an obvious choice for future collaboration."
About Asahi Beverages
Asahi Beverages is one of the leading beverage companies in Australia and New Zealand. Asahi Beverages manufactures and markets quality alcohol and non-alcohol beverages, boasting a strong portfolio of established household brands, including Schweppes, Pepsi, Solo, Cool Ridge, Gatorade, Cottee’s cordials, Asahi, Peroni, Woodstock Bourbon and Vodka Cruiser.
Asahi Beverages is a member of Asahi Group Holdings, one of Japan’s leading beverage companies, and comprises of some of Australia and New Zealand's most successful beverage businesses, including Asahi Lifestyle Beverages (formerly known as Schweppes Australia), Asahi Premium Beverages, Asahi Beverages NZ (formerly Independent Liquor) and The Better Drinks Co.
Earlytrade is an Australian fintech company that provides a unique ethical alternative to ‘reverse factoring’ or supply chain finance.
Founded in 2016 by technology entrepreneur, Guy Saxelby and ex-ASX product manager, Piers Symons, Earlytrade owns and operates Australia’s largest early payment marketplace with over 36,000 businesses using the platform today to request early payment from their customers.
A key difference between the Earlytrade Marketplace model and other reverse factoring arrangements is that it is entirely supplier-driven. If suppliers require funding before their contractually agreed payment date, they can access an alternative source of liquidity via the marketplace at rates significantly less than bank financing, which in turn creates real value for suppliers.
Earlytrade’s Marketplace matches a committed supply of working capital from customers and the demand for early payment from all their suppliers. Unlike some platforms, Earlytrade does not mine big data or use AI to collect detailed information on the contents of supplier invoices. This is important as it allows Earlytrade’s marketplace to be neutral, with supply and demand driving rates.
Along with its core marketplace platform, Earlytrade has four other products growing in adoption including Earlytrade View, Earlytrade Verify, Earlytrade Grower and Earlytrade Fund.