Bamboo Rose Partners with Seaport Global to Offer Lower-Rate Financing Solution to Retail Suppliers
BOSTON–(BUSINESS WIRE)–Bamboo Rose – the leading product innovation platform connecting the retail community to discover, develop, and deliver products at consumer speed – today announced it will offer supplier financing to its clients via Seaport Global’s invoiceXcel service.
The partnership enables suppliers on the Bamboo Rose platform to receive early payment of their invoices, as quickly as the same day. This ability to quickly and simply receive invoice payments helps suppliers more easily meet new orders, as they will have cash on hand for items such as sizeable inventory purchases, new equipment or new hires. Customers of Bamboo Rose also benefit as they’ll know that their suppliers have an easy-to-use way of accelerating invoice payment.
invoiceXcel complements Bamboo Rose solutions that help deliver products to the right market at the right price at the right time.
“When it comes to getting products to shelf quickly, suppliers are the lifeblood – but a lack of cash on hand can severely impede their ability to respond to market demand,” said Sue Welch, CEO of Bamboo Rose. “In keeping with our goal of providing a holistic ‘world’ in which retail communities can design, develop and deliver great products, we’ve addressed the very real roadblock of supplier financing.”
Suppliers can log in to invoiceXcel’s web-based platform and then easily select invoices that are eligible to be paid early. Invoices will typically be paid within 24 hours with the funds deposited directly into their designated bank account. Unlike other types of financing, this innovative program is not debt to the supplier and is optional to use.
“Bamboo Rose is an ideal partner for invoiceXcel because of their forward-thinking approach to the new retail economy. Timely access to working capital is critical for any business regardless of size. We’re eager to work with Bamboo Rose to deliver on this need,” said Dave Skirzenski, Seaport Global.
For more information about Bamboo Rose, visit bamboorose.com.
For more information about invoiceXcel, visit invoiceXcel.com.
About Bamboo Rose
Bamboo Rose helps the retail community cross the digital chasm to discover, develop, and deliver products at consumer speed. Bamboo Rose offers the only end-to-end product innovation platform that combines a digital B2B Marketplace, intelligent Product Lifecycle Management (PLM), Sourcing, Purchase Order, Global Trade Management (GTM), and Sales Order. We help retailers and suppliers simplify the product creation and delivery process to bring great products to market faster, more efficiently, and at higher margins. Our company is made up of retail experts with decades of experience at some of the largest global retailers. Bamboo Rose serves over 85 tier one retailers, 400 brands, 35,000 suppliers, 250,000 user members representing over $725 billion in retail sales.
About Seaport Global
Seaport Global is a full-service investment bank offering capital market advisory, sales, trading and research services. Headquartered in New York City and New Orleans, Seaport Global has over 375 employees in offices across the United States and Europe. In 2018, Seaport Global Holdings LLC launched invoiceXcel to directly benefit from Seaport Global’s diversified and institutional capital raising expertise.