Finance Program Enables Companies to Realize Revenues Faster to Focus on New Product Development and Business Growth
Seabury TFX (“STFX”), a specialist in trade finance solutions for supply chains and a company of Seabury Capital Group LLC, rolled out an all-new finance program, TrakFin (TrakFin.com), on the sidelines of the 2020 Hong Kong Fintech Week.
@SeaburyCapital’s #SeaburyTFX has launched #TrakFin, a finance program that will enable companies in the #appstore and #advertising community to gain faster access to their earnings
The finance program is targeted to enable companies in the app store and advertising community to gain faster access to their earnings and deploy their resources more rapidly to fuel product development and business growth.
Companies that are selling apps and placing advertising on major platforms, such as Google Playstore, Apple iTunes, and Google Adsense, often face delays of up to 60 days in gaining access to their earnings. App developers, in particular, are underbanked because their monthly revenues frequently do not reach the $1 million threshold required by traditional banks and their account receivables programs. The complexity and size of these digital transactions further compound the challenge, with traditional programs invariably turning companies away because they are unable to manually verify sales.
“TrakFin.com is the ‘go-to’ solution for streamlining the process for app store and ad companies to shorten their cash conversion cycle,” explained Seabury TFX Chief Executive Officer Robert Lin. “By getting paid earlier from the TrakFin finance program, businesses operating in the app development and online advertising space no longer need to be cash strapped and can focus their efforts on further product development and business growth.”
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