HOW PLAYTER MAKES INSTANT CREDIT DECISIONS TO SCALE SUSTAINABLY WITH WISERFUNDING AND CODAT

“I don’t think our business would be around 5 years ago if it weren’t for the technology that Wiserfunding and Codat provide. They help give us the speed and accuracy we need to win business and scale very quickly, and it goes beyond technology – Wiserfunding are experts in SME credit risk and underwriting. They have provided support at every turn as we continue to scale. We get the data we need in 15 seconds, data that banks and credit bureaus simply don’t access, and the integration with our credit analytics enables us to make good, fast lending decisions. Wiserfunding and Codat have been invaluable to our growth.”

Jamie Beaumont, Founder & CEO

Instantly screens SMEs for creditworthiness based on a simple online application

Provides a holistic, single customer view of credit factors to power underwriting decisions and internal operations

Continuously monitor credit changes to update loss provisions, manage distressed debt, and calibrate underwriting policies

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

SITUATION

For years, Logoipsum manually tracked marketing metrics using Excel, Google sheets, and complex macros

The Challenges

Scalability

Playter needed a credit analytics solution that could scale with them, accurate underwriting is at the core of their business model. To provide fast, reliable credit decisions to applicants, Playter needed to develop a SME-focused solution that could screen, analyse and process applicants’ creditworthiness instantly.

Efficiency

Alternative corporate credit screening tools did not provide enough data or granularity and were too costly and time-intensive to scale.

Accurate Assessments

Rather than looking at transactions at the point of purchase, Playter evaluates the SME’s creditworthiness as a single entity. This allows them to better understand liabilities against income and cash flow. However, to do so, Playter required a proven credit risk analytics solution that analysed financial and risk across all fundamental business metrics.

Speed to value

From start to finish, Playter fully implemented the Wiserfunding solution in under one week. Now, the applicant screening process is instant, credit decisions are made in 1 hour, and most approved customers receive their cash in 24 hours or less. For customers, the difference is clear: while banks take weeks to months for similar decisions, Playter’s customers can go from application to cash in less than two working days.

Growing the pie

Playter has increased the size of its addressable market by responsibly managing and expanding the constraints of SME lending. With accurate, fresh management account data provided by Codat, borrowers previously locked out of lending from traditional institutions can now prove their creditworthiness and receive funding, and Playter can provide larger credit limits to healthy customers.

Optimising margins.

Better, fresher data means that Playter has been able to reduce the costs of bad debt and defaults. Highly automated credit decisioning allows their team to focus on solving edge cases and driving customer experience, so the company can sustainably scale its portfolio much faster than headcount.

Strengthening investability

Since implementing the Wiserfunding and Codat solution, Playter has raised over $55mn in combined funding to fuel its journey. The reliability of their risk engine has helped Playter convince both VCs and institutional investors of their model’s sustainability.

Management account data powered by Codat

When evaluating a credit decision, most SME lenders review an applicant’s filed accounts. However, this data can be up to 12-18 months out of date. Using Codat’s API, Playter asks applicants to connect their accounting platform and open banking data. It pulls data from applicants’ management accounts (e.g. Xero, Quickbooks, SAGE) and banks directly into the Wiserfunding platform.

Changing the game

Playter does BNPL differently. Other lenders often assess individual transactions for customers, which can easily lead businesses down the slippery slope of over-indebtedness. Instead, Playter lends responsibly by evaluating the holistic creditworthiness of an entire business. With Wiserfunding and Codat’s support, Playter excels in delivering its vision of ethical lending.

Playter is a B2B Buy Now, Pay Later (BNPL) solution that empowers small and medium enterprises (SMEs) to take control of their cashflow through fast, flexible funding to spread their invoice across 6 or 12 monthly installments. Playter’s vision is to accelerate its customers’ growth by bringing the speed and flexibility of BNPL to startups and small businesses.

As a high-growth startup, Playter grew turnover 20x and raised over £55m in the last 9 months.

Over 200,000 small businesses have spent £4 billion on their Capital on Tap Business Credit Cards across the US and UK.

Playter is a B2B Buy Now, Pay Later (BNPL) solution that empowers small and medium enterprises (SMEs) to take control of their cashflow through fast, flexible funding to spread their invoice across 6 or 12 monthly installments.

Playter’s vision is to accelerate its customers’ growth by bringing the speed and flexibility of BNPL to startups and small businesses. As a high-growth startup, Playter grew turnover 20x and raised over £55m in the last 9 months.