TradeSquare, a new Australian B2B trading platform for companies to source products, will launch next month, exclusively offering Australian SMEs an unprecedented range of products at wholesale prices and 60-days free credit in a single online location.
The company has been founded by Einat Sukenik and is backed up by a syndicate of strong investors along with the BNPL finance company Zip and with Australia’s largest marketplace integrator, Omnivore.
Australian owned and Australia focused, TradeSquare will link brands and wholesalers with small businesses, including retailers, education and child-care providers, healthcare and hospitality businesses across Australia, saving them time and money in sourcing.
TradeSquare was designed to meet the pain points of both suppliers and buyers during these challenging times and after extensive research, she says.
“Our team understands that it’s an uncertain time right now, and being local and supporting Australian businesses is crucial,” explains Sukenik. “The power of our community is our mission, the platform is just an enabler.
“Our vision is to empower Australian small businesses by enabling them to transact directly through a digital platform that provides them with the tools and capabilities they need to grow and be productive whilst supporting the local economy.
“By using our digital trading platform, suppliers can accept orders from small businesses that have been vetted by TradeSquare, knowing the transaction is guaranteed by us and they do not have to worry about setting up individual customer accounts and tracking payments,” says Sukenik.
“Buyers told us they want more product inspiration and options in sourcing direct and rapid order fulfilment, which is not possible when dealing with overseas trading platforms or with joining trade fairs, which are generally suspended right now. They also find it cumbersome submitting multiple credit applications with
TradeSquare solves those common business challenges for both parties by offering thousands of brands and products on a single platform, easily categorised for searching, a single, simple credit-application process, accurate final prices for goods bought on the platform – and a partnership with Zip providing up to 60 days interest-free credit on purchases, with an option to extend credit further (with interest).
TradeSquare has partnered with Zip Biz to offer 60 days interest-free finance to small businesses, which can be extended further for a low interest charge.
Larry Diamond, CEO of Zip, says he believes in supporting Australian SMEs to grow their businesses, especially in these challenging times.
“By providing interest-free finance for up to 60 days we are taking away major pain points for business leaders, who can now potentially source, stock and sell products before they have to pay for them, and by removing the hugely time-consuming process of completing credit applications for multiple suppliers. TradeSquare with Zip is a business solution for our unprecedented times.”
Sukenik says that in just 60 days, TradeSquare has already made a huge impact, signing up more than 100 wholesalers, with more joining every day. “The largest categories at this stage are Home and Garden, Health and Beauty, Furniture, Accessories and Electronics. More than 1000 prospective buyers have signed up to be notified when we go live in August.”
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