9 years ago

InstaSupply Secures $1.5 Million to Digitize Supply Invoicing

  • InstaSupply, a London-based company founded by former executives of W.W

  • Grainger and Amazon, has raised $1.5 million in seed funding to revolutionize the supply invoicing process

  • The company's cloud-based platform aims to move supply logistics from paper to the computer, allowing procurers and sellers to connect with each other in their own warehouses

  • InstaSupply is exploring the use of blockchain technology for registering proof of activity for invoice payments and purchase orders

  • The system is designed for multi-site businesses with no or small procurement departments, offering a more efficient and streamlined way to manage supply chain transactions.

      • ProblemTechnology Infrastructure

      "Ordering supplies for businesses is still done over the phone, via email, or a multitude of various supplier websites, resulting in invoices mostly received in paper format by a detached finance department. This process is slow, inefficient, and prone to errors."

      Solution

      "InstaSupply provides a cloud-based platform that connects buyers and sellers, automates the ordering and invoicing process, and uses blockchain technology to register proof of activity for invoice payments and purchase orders. This makes the process faster, more efficient, and reduces the risk of errors."

      Covered on