This is a big idea to flip the financial risk paradigm upside down, and unchain the industry from unreliable credit data and bulky credit and collection processes.
New Orleans, Louisiana (PRWEB) March 31, 2014
On Friday, March 28th, 2014, zlien was named the winner of the Coulter IDEAPitch at the 6th Annual New Orleans Entrepreneur Week (NOEW). zlien is a platform that disrupts credit risk monitoring and receivables management in the construction industry by empowering companies to challenge controversial financial risk shifting practices.
“In the past year, zlien’s platform has secured over $1 billion of receivables for the construction industry, while delivering on its value proposition to get companies paid faster, more often, and to take in more business with significantly less credit risk,” reported Scott Wolfe, zlien’s CEO.
That traction and the company’s big impact value proposition won over panelist and investors, who were asked to think about what zlien’s technology could mean to an industry with over a $1 trillion in receivables annually.
Created in 2010 by TPG Capital founding partner Jim Coulter and The Idea Village, the Coulter IDEApitch is an invitation-only investment pitch featuring select high-growth entrepreneurs in the New Orleans region presenting their ventures to world-class investors. zlien was one of three companies selected to participate in the event from a lot of over 3000 entrepreneurs.
“Managing credit risk and getting paid on invoices is a high-stakes hassle for specialty contractors, equipment rental companies, and material suppliers,” says Wolfe. “This is a big idea to flip the financial risk paradigm upside down, and unchain the industry from unreliable credit data and bulky credit and collection processes.”
Founded in 2007, zlien’s platform gives the construction industry greater control over its bottom line and receivables funnel by empowering companies to control their lien and security rights.
“It’s common sense for banks, financing companies, and other industries to rely on security rights,” says Wolfe, “but even though the construction industry has security options, it is lost in a labyrinth of nuances and regulation” without the zlien platform.
As the winner, zlien will travel to San Francisco on a TPG Capital sponsored trip to meet with potential venture investors. The company raised a seed round of capital in 2012 organized by the New Orleans Startup Fund.
zlien provides software and services to help building supply and construction companies reduce its credit risk and default receivables through the management of mechanics lien and bond claim compliance. Founded by experienced construction attorneys, zlien is the leading publisher of mechanics lien and bond claim resources and analysis, and has led the industry in innovating credit risk management solutions by utilizing the lien and bond claim laws. Learn more at http://www.zlien.com