Calgary-based fintech company Quickly has locked a $10 million seed financing round that will help support recruitment and growth.
The company made the financing announcement Tuesday, which was led by Calgary-based venture capital firm Thin Air Labs, ATB Financial and Plug and Play, a group that builds connections between startups and global tech companies.
Quickly is an early payment platform that allows vendors access to early payments while working in cost-savings discounts.
Kyle Friedman, co-founder and CEO of Quickly, said that being paid is a universal and global problem for B2B companies and they wanted to fill that niche.
“This financing cements the acceptance of a Canadian Founded Early Payment Platform,” said Friedman.
“We have been receiving tremendous support from the Alberta tech ecosystem and customers have been praising our solution.”
So far, the company has gained momentum in the construction, manufacturing, real estate and energy sectors, read a company media release.
Both Thin Air Labs and ATB Financial said this solution solves and significant problem for small and medium-sized businesses: Cash flow.
“Quickly is addressing the cash flow challenges faced by growing businesses in Alberta and across Canada through its innovative supply chain financing technology,” said Marc Rancourt with ATB Financial.
Thin Air Labs has been working with Quickly for the past 18 months, said James Lochrie, managing partner.
“At Thin Air, we believe Quickly has a significant opportunity for growth while helping businesses around the world become more efficient,” Lochrie said.
The company said they would be using the funding to support further recruitment, US expansion and overall growth.