Inxeption and OatFi have partnered to offer Inxeption Global Marketplace buyers extended payment terms, allowing for limits of $1 million+. OatFi's integration into Inxeption's platform allows buyers to manage cash flows for high-value purchases with terms up to 90 days. It is expected that all Managed Stores powered by Inxeption will eventually have access to similar B2B payments capabilities
CUPERTINO, Calif., Dec. 8, 2023 /PRNewswire-PRWeb/ -- Inxeption, the leader in industrial e-Commerce, announced today that it has partnered with OatFi, a leading provider of B2B working capital infrastructure, to offer extended payment terms to qualified commercial buyers on the Inxeption Global Marketplace. Inxeption buyers will now be able to apply for credit limits of $1M+ and seamlessly make critical supply chain purchases with financing terms in a simple, online checkout.
The new partnership between Inxeption and OatFi brings the ease of transacting that consumers have become accustomed 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. Through the Inxeption-OatFi partnership, 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 establish a relationship with an outside financier. Since all the workflow complexity is handled under the hood of the Inxeption Managed Store software, the customer experience for buyers buying with terms remains exactly the same as those paying by cash.
"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."
"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 e-Commerce software, commercial buyers and sellers will be able to conduct more of their transactions online and without friction, furthering our mission of leveling 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.
"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."
To apply for extended payment terms on the Inxeption Global Marketplace, click HERE.
About Inxeption:
Inxeption is the Industrial e-Commerce company. We enable businesses to sell their products and services online through our Managed Store e-Commerce software and the Inxeption Marketplace.
Our Managed Store software is purpose-built for industrial businesses, enabling suppliers to run an online store, take orders digitally, and advertise to prospects. Managed Store's comprehensive e-Commerce platform allows businesses to dynamically control pricing and product information, execute all aspects of complex transactions, and directly connect to and understand their end customers.
Inxeption Marketplace is the premier online marketplace for business-to-business commerce. We help buyers source products, services, and software across a number of industry verticals. With millions of visits to inxeption.com, trusted sellers who utilize our marketplace rapidly scale awareness for both their brands and their offerings.
About OatFi:
OatFi is a New York-based fintech company founded by Mike Barbosa and John Jordan in 2021. OatFi provides the end-to-end infrastructure for B2B payment platforms to embed and monetize working capital tools for their commercial end users. With OatFi, platforms can offer Net Terms, Commercial Charge Card programs, and other B2B financing products that empower users to collapse their cashflow conversion cycle without taking on additional customer credit risk.
Media Contact
Sean Cunningham, Inxeption, (888) 852-4783, [email protected], inxeption.com
SOURCE Inxeption
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