Wiserfunding is reporting two new platforms that are incorporating its service.
Monet, a financial services firm for the “creator” economy, and Playter a buy now, pay later (BNPL) service, have both incorporated Wiserfunding’s credit risk assessment for SMEs.
According to a release, Monet is using Wiserfunding’s technology to assess the credit risk of creative SMEs, who are using the platform to get invoices paid upfront into their Monet account and accessing further financial support. The platform seeks to provide creative professionals the ability to better control cash-flow, to submit any invoice and get paid upfront by Monet within 24 hours, while the data is used to drive faster financial inclusion for creators.
Playter is using Wiserfunding to assess risk of SMEs looking to utilize its BNPL service. The company enables start-ups to split the cost of professional services invoices over 6 monthly payments at 0% interest.
Wiserfunding explains that by using its service these firms can better implement risk-based pricing.
Jamie Beaumont, founder and CEO of Playter, says that estimating SME risk is incredibly hard:
“With Wiserfunding, we’re able to get a great view of borrower risk, and therefore make more informed decisions about which companies we work with. Playter is now able to scale in the knowledge that we have the best data to do so.”
Jacob Casson, Founder of Monet, says the Wiserfunding platform has been instrumental for their company:
“Without the data available and the ongoing support from the Wiserfunding team, we’d have struggled to get to market with the quality infrastructure and tools we now have available for our users.”
Wiserfunding has built on co-founder Edward Altman’s “Z-score” method to assess intangible factors in SME risk such as corporate governance, management capacity and macroeconomic outlook.