Jun 29, 2018
InstaSupply was founded in late 2014 by Lee Pruitt and Tim Huegdon with the vision to simplify all buyer and supplier business interactions online; born out of their prior experiences. InstaSupply have spent time building and refining a robust workflow that captures, digitizes, and automates all the back-and-forth interactions that proceed payment. Whilst disruption of the problems in business related to ordering, delivering, invoicing, and accounting have been a key focus, managing payments has always been the company end game since inception. Funded through rounds of investor financing since formation, the company has built a team of deeply experienced professionals who develop the platform, onboard and sustain thousands of businesses, and have processed over $60 million in transactional value.
2020 and beyond
Attention. There is a risk that unverified members are not actually members of the team
Positives SMBs cash flow can be more predictable and timely so that long term plans can be achieved easily. Less likelihood for human error so that time is not wasted on having to return invoices etc. Overall accounts are up to date and transparent, enhancing audibility. Can be used as an alternative to a bank, if funds are necessary. Negatives InstaSupplys platform with the integration of PayBlok will only work given both sides of the transaction are willing to use the utility token.
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