Episode 62

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Published on:

17th Oct 2024

Factor Now, Pay Later - Flexible Extended Payment Terms Increasing Cash Flow & Lowering Risk.

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In this episode of FinTech Confidential, host Tedd Huff interviews Jordan Olivas, the founder of Harvv, a B2B accounts receivables financing platform. The conversation focuses on how Harvv is helping businesses in traditional industries, such as recreational vehicles, construction, raw materials, and consumer packaged goods, by offering innovative financial solutions that streamline their payment processes and improve cash flow. Throughout the discussion, Jordan shares valuable insights on the challenges these industries face and how Harvv’s platform addresses these issues by making the payment and financing process easier for both sellers and buyers.

Key Highlights

  • Why Flexible Payment Terms Are the Key to Faster Cash Flow
  • The Secret to Reducing Financial Risk with Payment Solutions
  • How Automation Saves Time in Managing Payments
  • Why In-House Financing Comes with Hidden Costs
  • What Traditional Industries Need to Know About Payment Terms
  • Why Customer Service Plays a Big Role in Payment Success
  • How Tight-Margin Industries Can Improve Financial Stability
  • Streamlined Onboarding Can Make or Break Payment Systems
  • Why Reverse Factoring Beats Traditional Financing
  • The Importance of Perseverance in Business Success

 

Takeaways

1️⃣ Get Paid Faster with Flexible Payment Options

2️⃣ Automate to Eliminate Manual Payment Chasing

3️⃣ Shift Credit Risk to Buyers for Safer Deals

4️⃣ Reduce Hidden Costs by Outsourcing Financing Tasks

5️⃣ Offer Multiple Payment Methods for Customer Convenience

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ABOUT:

Jordan Olivas: Jordan is the founder of Harvv, a rapidly growing B2B factoring platform that's revolutionizing financing for traditional industries like raw materials, solar, construction, and consumer packaged goods.

Before Harvv, he founded QisstPay, which became one of the largest Buy Now, Pay Later services in Asia. Under Jordan's leadership, QisstPay partnered with over 1,000 brands, including major players like Samsung and Lenovo.

Jordan's experience spans from startups to corporate leadership roles. He's worked with some of the biggest names in fintech, including Klarna and ChargeAfter. His expertise in lending, revenue growth, and strategic partnerships has made him a sought-after leader in the industry.

 

Harvv: Harvv is a B2B financing platform that helps businesses improve cash flow. Offering flexible payment terms and shifting credit risk to buyers, it allows companies to get paid upfront. With seamless automation and integration with accounting software, it simplifies invoicing, reduces delays, and cuts the costs of in-house financing, enabling businesses to grow confidently.

Tedd Huff: Tedd Huff is the Co-Founder of Voalyre, and the President & Founder of Diamond D3, a professional services consulting firm focused on global payments and marketing. He is also a video podcast host and producer of Fintech Confidential.

Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.

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Chapters

00:00 - Leaders 1:1 Jordan Olivas Preview

Introduction to the episode and guest Jordan Olivas.

03:06 - Jordan Olivas’ Journey and Harvv’s Impact

Overview of Jordan’s background and the creation of Harvv.

05:03 - Transitioning from BNPL to B2B Financing

Jordan explains his shift from consumer Buy Now Pay Later (BNPL) to B2B financing.

06:45 - Challenges in B2B Financing

Discussion of the obstacles Harvv faced in traditional industries.

07:47 - Educating Traditional Industries

The importance of educating businesses about modern financing solutions.

12:47 - Sales Strategies and Market Focus

How Harvv targets sales and focuses on specific industries.

14:19 - Leveraging Technology for Cashflow

How technology and automation enhance cash flow and reduce manual work.

15:18 - Automation and Integration

Discussion of Harvv’s automation features and system integration capabilities.

20:39 - Hidden Costs of In-House Financing

Explanation of the unseen expenses businesses face with in-house financing.

21:54 - Customer Payment Challenges

Challenges businesses face with late payments and customer creditworthiness.

23:07 - Understanding Factoring in Business

Insight into how factoring works and how Harvv’s reverse factoring differs.

26:10 - Future Trends in B2B Financing

Predictions for the future of B2B financing and emerging trends.

27:27 - Innovative Solutions for Accounts Receivables

Harvv’s unique solutions for modernizing accounts receivable management.

36:18 - Risk Management in B2B Financing

How Harvv helps businesses manage financial risks effectively.

36:56 - Advice for Entrepreneurs

Jordan shares key advice for entrepreneurs about resilience and perseverance.

40:58 - Closing Thoughts and Final Words

Final reflections from Jordan on Harvv’s mission and Tedd Huff wraps up the episode.

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About the Podcast

Fintech Confidential
Bringing you the people, Tech, and Companies that change how you pay and get paid.
Entertaining information focused on Fintech industry insights, market trends, news, and life stories from Fintech leaders, thinkers, and doers.

About your host

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Tedd Huff

20 plus year veteran of Fintech, giving merchants and SaaS businesses control over their Payments destiny, global PSP/Payment Facilitator advisor.

💎 Founder/President of Diamond D3
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