Grapple surpasses AUD $500m in invoice processing milestone

Australian small and medium enterprise (SME) financier Grapple has achieved a significant milestone by processing invoices worth over AUD $500 million through its invoice finance platform.

The company has experienced a surge in activity in 2024, with approximately half of this total volume generated this year.

Stephen T. Dawson, Chief Executive Officer and Founder of Grapple, remarked, "Australian SMEs are increasingly looking to Grapple for invoice financing solutions as this working capital product grows in popularity in Australia." The growth noted in 2024 has largely been driven by Grapple Plus, the core invoice financing service, which continues to be favoured by SMEs aiming to efficiently manage their working capital.

Projections indicate a significant rise in invoice financing, with a study predicting that the Asia Pacific invoice finance market could nearly triple over the next eight years.

Dawson further explained, "Since Grapple has built a proprietary lending platform we are also seeing a lot of enquiries from other lenders who are interested in using the platform as it makes the entire invoice financing process seamless for both the SMEs and lenders. The market, including lenders, brokers and clients, is enthused about our platform due to its ease of use and fast turnaround. We have made significant enhancements this year by adding new features including incorporating AI that improves analysis, risk mitigation, monitoring and compliance capabilities. This all results in a better experience for the client."

The Grapple team has recently expanded by welcoming Patrick Rossi, an experienced Fintech executive, to lead Grapple's SaaS partnerships with key banks and lenders. Rossi, who has notable experience in delivering SaaS platforms, aims to drive SaaS agreements and explore partnership opportunities with other lenders and financial services organisations.

Rossi expressed, "Lenders have an opportunity to uplift their systems to provide a better experience to customers managing their working capital. Grapple's platform can help them launch a new product offering or enhance their existing working capital solution, while driving efficiency."

He also highlighted the strengths of Grapple's platform, stating, "We are confident that Grapple provides the best bank-grade platform for invoice financing and the $500m milestone is a testament to the success of Grapple's platform in the market. We've built and stress-tested our highly scalable platform to integrate fully with widely used accounting software providers. With real time and individualised reporting and tracking features, clients and admins can manage the risks in real time."