From youth, Magellan aspired to be an entrepreneur. After graduating and working in the family business, he founded Acudeen to solve a pain point for SMEs — the problem of cash flow and delayed payments. Acudeen acts as a marketplace for SMEs and funders who bid on yet-to-be-paid invoices. The result is quick payment for cash-strapped SMEs and low-risk returns for funders and investors.
In today’s episode you’ll learn:
- About receivables financing and its potential impact for SMEs
- How Acudeen works as a marketplace between SMEs and funders
- About Acudeen’s revenue model
- About Acudeen’s expansion plans
- Magellan’s insights from the Alibaba eFounders Program
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What was your biggest insight from this week’s episode? Let Jay know in the comments or on Twitter: @jaykimmer.
LINKS FROM TODAY’S EPISODE
- Read the full transcript from Magellan’s interview
- Find Magellan LinkedIn
- Find Acudeen on Facebook and Twitter
- Acudeen
DETAILED SHOW NOTES
- (1:22) Magellan shares his background and how he saw the need for the services Acudeen provides today
- (2:55) Magellan explains what is receivable financing and its impact on SMEs
- (4:48) Magellan gives an example of how receivable financing works
- (6:01) How Acudeen can help relieve cash flow problems for SMEs
- (7:46) Magellan explains how the process of buying and selling receivables works on Acudeen
- (10:16) Magellan explains the Acudeen revenue model
- (11:29) Magellan explains who can be funders on the Acudeen platform
- (12:38) Magellan gives a timeframe for how long it takes to receive funding through the platform
- (14:47) Magellan addresses delinquent payments
- (16:50) Acudeen’s locations and expansion plans
- (18:14) Magellan’s takeaways from the Alibaba eFounders Program
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