Bluechain plans to reach 100,000 new customers in their first year, focusing on large businesses and SMEs with digital payment needs
Bluechain, the fast-growing fintech startup that transforms the traditional payments and receivables process, has officially launched in the UK with their first customer, leading construction materials supplier, Aggregate Industries. The objective is to allow Aggregate Industries to digitise the billing, collections and reconciliation process with their SME customers.
Bluechain sees the UK as a strategic marketplace for its current growth objectives and they plan to expand aggressively into the marketplace, aiming to reach 100,000 new customers by the end of their first year. With further global expansions already in the works, including Europe and Africa, Bluechain has their sights set on landing large businesses and SME customers across a range of sectors including utilities, wholesale, construction and professional services.
The UK expansion follows a very successful Australian launch in the summer of 2020 focused on supporting SMEs. Bluechain has a growing number of customers and partners, including NRS Couriers, Rabbithole Café, Madcrew Wealth and Tuber.
The Request to Pay (RtP) experts offer their platform to connect businesses and their customers in real-time, transforming the biller and payer experience and taking the reactive “black hole” of invoicing into an insightful and connected mutually beneficial relationship.
As the global economy navigates rising inflation, energy prices and the cost of living, financial management and budgeting are more important than ever. Bluechain’s platform puts the control in the hands of the payee. Customers can schedule bills at a date that aligns with their payday and split payments into smaller amounts, pay in full or query their bill.
With Bluechain’s network, businesses receive complete transparency on invoice status with live data to know when they will get paid. It also eliminates security risks as payment data is never in transit and verified billers no longer need to share risky text payment links.
With 54% of banks and Payment Service Providers citing technology limitations and existing systems as their biggest obstacle, Bluechain provides a fully featured capability that can seamlessly plug into existing core platforms like ERPs, accounting platforms and CRMs.
Tim Annis, UK Managing Director at Bluechain, said: “Businesses, such as Aggregate Industries and their customers are the backbone of the UK economy and this launch into the UK market is a great opportunity for Bluechain to help transform the payments experience particularly for SMEs. Bluechain’s platform takes businesses one step closer to their customers, and we are thrilled at the opportunities that this is bringing for UK customers. It’s great to be able to work with a partner like Aggregate Industries as we thrive together in delivering the best in class customer experience for billing and collections.”
Phil Rice, Head of Credit at Aggregate Industries said: “Aggregate Industries and the broader Holcim Group are always looking for new ways to support and improve the customer experience. Through our open innovation platform, Holcim MAQER, we identify and partner with startups delivering the most impactful solutions that solve challenges for our customers and our own teams. Bluechain presents an opportunity to create a closer level of customer engagement. The focus on how we can help them become more digitally enabled whilst at the same time supporting the cost-to-service receivables makes it a win-win. Bluechain’s end-to-end approach presents just such a solution.”
Stephen Bedggood, Vice President of Product at Bluechain added: “Bluechain’s launch in Australia has been very successful, with a significant number of small businesses and enterprises making or receiving payment via our platform. The expansion into the UK is a testament to the global success and impact we have had to date empowering businesses and customers in their payments journeys and I am excited to see this replicated in the UK market.”
Philip King, Ex Small Business Commissioner and Advisor at Bluechain said: “One of the most challenging things for people to do in a cost of living crisis is pay, which is why it’s important to give customers the ability to do so efficiently. Bluechain’s technology takes payments and billing to the next level in a way that transforms how companies connect with their customers. Managing finances is at the front of people’s minds, and it is easy to lose sight of the person behind the invoice when focusing on the end goal of getting paid. Bluechain’s platform is customer-centric and gives the biller the visibility to meet their customer’s needs.”
Bluechain is available now in the UK. For more information, please visit bluechain.com.
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