The French FinTech Aria’s B2B delayed payment infrastructure has been expanded to the UK.
The company encourages the platform economy by enabling businesses to pay when they want to pay and freelancers to get money more rapidly, according to a news release released by Aria on Wednesday (June 28).
According to the news release from Clément Carrier, CEO and co-founder of Aria, “our growth has been fueled by solving a real problem for freelancers and businesses in a way that lets platforms keep control of their customer experience.” “Our mission is to transform how businesses pay and receive payments, and opening the U.K. market is a crucial step in that mission.”
According to Carrier in an interview published in April, freelancers and small- to medium-sized businesses (SMBs) sometimes have to deal with lengthy payment periods, which can range from 30 to 60 days. This puts a pressure on sound cash flow management.
According to Carrier during the interview, Aria’s solution enables sellers to get 100% of the value of their invoices directly within 24 hours, while purchasers can continue to follow their regular payment terms until Aria is paid back.
The Aria deferred payments platform connects to marketplaces, transactional Software-as-a-Service (SaaS) platforms, and enterprise resource planning (ERP) systems. It also allows platform partners to white label the solution and distributes supplier invoice payments early while giving customers up to 90 days to pay.