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Waddle offers a modern invoice finance platform with greater flexibility and automation than most traditional invoice finance facilities. It syncs with your cloud accountancy platform and generates a real-time credit limit based on the value of your eligible invoices. You can select which customers to fund and you only pay for those funds that you draw down on. Your credit limit is adjusted in real-time as invoices are raised and paid.
In addition, our platform has two-way data sharing which makes reconciliation easy - a customer pays an invoice into your Waddle account and you'll see it appear in your accountancy platform the next day, no uploading of invoices or ledgers - saving you time to focus on running your business.
Waddle is not factoring. Typically a factoring company will purchase your invoices off of you and then take over collections. Therefore, your customers will be aware that you are using a factoring service, as they will be in touch with them regarding repayment of the invoice.
Waddle does not much purchase your invoices but extends a line of credit based on the total value of your eligible invoices.
In addition, Waddle is fully confidential - we stay in the background, you remain in charge of collections and your debtors pay into a different account that we set up for you.
Waddle’s rates are amongst the lowest in Australia and tailored for each business. Your rates will depend on your company’s financial health, the industry you operate in and the size of your facility. With Waddle, you’ll only pay for funds you choose to borrow, not on the face value of invoices allowing you to further reduce your cost of capital. Simply select ‘Get Funded’ for your rate.
As part of the process of qualifying for a facility, we will need to perform a credit check. Rest assured we will not perform this until we have agreed on pricing and you have let us know that you would like to proceed.
You can contact us by emailing firstname.lastname@example.org or you can call us on 1300 649 322.
To be eligible for Waddle you must meet the following criteria:
You invoice other Australian businesses
You have been trading for more than 9 months
You're an incorporated business (eg. Pty Ltd)
You invoice only when work is complete
You have at least $10k in unpaid invoices
You have 3 or more customers
We work with businesses in a variety of industries including recruitment & labour-hire agencies, manufacturers, wholesalers and transport companies. Generally, we are not able to assist in construction or retail businesses.
Click “Get Funded” and connect your accounting package to access your indicative offer in seconds. We’ll get in touch with you within a couple of hours to discuss your application.
We aim to complete your application process from the moment you supply the required documents to getting the funds in your account in 48 hours.
You will be asked to provide certain documents at different stages of the approval process. These can include current and previous financials, identification of directors, tax and bank statements, trust deeds if applicable, invoice supporting documents.
Waddle reviews your company invoice and related financial information. This may include: Invoices, Credit Notes, Bank Transactions, Payments, Profit & Loss Statement and Balance Sheet.
It means we can show you an indicative offer in seconds, without having to send any paperwork. You’ll be able to see your offer and how the product works, with no obligation to continue, although we hope you'll like it. If you apply for a facility, we keep the connection live so we can keep pace with your business and ask you no unnecessary questions, saving you time.
Currently, we support the following packages:
Intuit Quickbooks Online
We are developing integrations with other software providers so register your interest to keep up to date on new developments.
You will need to sign a facility agreement, but there is no fixed term commitment. You can exit penalty-free as long as your balance has been paid down to $0.
No. Your facility is confidential and we never contact your customers.
Your data is transfered using industry standard 256-bit TLS encryption technology. Waddle houses your data within an Australian data centre configured with multiple firewalls and network intrusion detection technology. All Waddle employees meet stringent reference, credit and criminal checks and only those with a direct requirement can view your data.
This means we have had to meet strict guidelines from your accounting package providers to ensure we fit seamlessly with their software. So you can count on us the same way you count on them.
Your credit limit is determined by the total value of your eligible outstanding invoices, as well as the level of funding required. Waddle’s credit team will be in touch to discuss the appropriate level of credit during the assessment and approval stage.
As part of the final set up of your account after you have been approved for a facility, you will be asked to log into your Waddle dashboard and select which debtors you wish to nominate that make up your funding portfolio.
If you're a first time user of Waddle, your account manager will guide you through the final steps. Once you have been notified that your account is live, you're ready to start drawing funds. Simply hit the drawdown button in your Waddle dashboard and enter the amount needed.
Payments from your selected customers are to be directed into your Waddle account which we will set up in the name of your business. Payments into this account will pay down your existing balance. You may also make additional payments directly to reduce interest charges.
Yes, any customers you choose to include in your facility will need to. When you create your account you'll be issued with a new bank account in your company’s name. Any balances drawn will be repaid via your customer’s payments into your new Waddle account, so there are no fixed repayments for you.
Within your Waddle dashboard navigate to the Customers tab. From here you can nominate customers for funding. If you wish to remove a customer from funding contact your account manager.
Eligible invoices are:
Invoices that have been raised at the completion of providing a good or service
That are aged no more than 90 days from issue date
That are invoiced to other AU businesses (B2B)
That are NOT milestone, staged or progressive invoices
Waddle has been designed to take up as little of your time as possible. Drawing down funds takes only a few clicks and thanks to the seamless integration with your accountancy package, your credit limit is updated in real-time and customer payments are automatically reconciled. There is no need to upload invoices or ledgers. Many of our customers have reported that it has saved them a day or more each week.
You will not neeYou will not need to upload invoices. Payments are automatically reconciled within your accountancy platform using bank feeds. After a customer settles an invoice by paying into your Waddle account, you should see those funds in your accountancy package the next day.d to upload invoices. Payments are automatically reconciled within your accountancy platform using bank feeds. After a customer settles an invoice by paying into your Waddle account, you should see those funds in your accountancy package the next day.
Interest is calculated daily on your outstanding balance and applied to your loan balance monthly.
Interest is added to your balance at the end of each month and fees are added to your balance when incurred. Your customer payments will simply pay off your balance.
Yes. You can create different user profiles and different access permissions once you have a live account.