Previse, the instant supplier payments decisions company, has joined the Oracle Global Startup Ecosystem, Oracle’s program for high-potential, emerging technology companies across the globe.
Oracle Global Startup Ecosystem program will help Previse with growth and scale as it rapidly expands its global client base. Oracle will provide leading cloud technologies, engagement opportunities with its 430,000 enterprise customers, mentorship and operational assistance.
Previse enables businesses to have all their suppliers paid instantly, as soon as the buyer receives an invoice. It uses machine learning technology to root out the invoices which won’t be paid, allowing a funder to pay the rest immediately. Suppliers pay a small fee (typically 1% per month) for instant payment which is shared between buyer, funder and Previse.
“Our global startup program allows us to work with and give cutting-edge companies, like Previse, the support, resources and competitive advantage to compete and win in today’s market and tomorrow’s,” said Jason Williamson, Vice President, Oracle Global Startup Ecosystem. “We look forward to a long-standing relationship with Previse.”
David Brown, Head of Innovation at Previse, said: “We have a very ambitious mission: to ensure every supplier can be paid instantly and at the fairest rate. We want to completely reshape global B2B commerce to cut out the inefficiencies of payment terms, unlocking $650 billion every year. We’ve built the technology to do it and now we are looking to partner with the best organisations to help scale Previse and bring InstantPay to the world.”
“That’s why we have chosen to work with Oracle. Oracle has unparalleled scale, experience and expertise when it comes to delivering technology to global enterprises. I think the Oracle Global Startup Ecosystem is just the beginning of a long and fruitful relationship between Previse and Oracle.”
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