On the heels of last week’s news that his company raised a $9.1 million round led by Union Square Ventures, Pollenware CEO Sandy Kemper sat down with Bloomberg TV for an interview that aired Wednesday. During the course of a three-minute clip from that interview, Kemper touched on topics that include the USV funding, the genesis of Pollenware and the model behind his company, which built a web-based marketplace where companies and their suppliers conduct live auctions aimed at optimizing the cash flow process.
We’ve pulled a few quotes from the interview, and you can find those below. To see the clip in its entirety, click through on the image at the top of this post.
On how Pollenware will put the new capital to use:
“As is the case with most companies that are out and growing as rapidly as we are, it’s going to be put back into technology and building out the platform so that we can sustain the growth that we’re experiencing and hopefully surpass the growth.”
On Pollenware’s model and why it works:
“In the new model, in marrying up those with cash (and) those who need the cash esp when its a buyer with their suppliers, its quite possible to eliminate risk, create transparency and solve for what we think is a fairly broken system today.”
On his background in banking and the genesis of Pollenware:
“Looking at it from a supplier’s perspective, when you have an account receivable from one of your large clients and you take it to the bank or another financial intermediary, there’s credit and risk underwriting around the providing of liquidity to that account receivable. …
“Banks are doing a great job in many fields. In this particular area, we think that it’s perhaps better to have a binary market conversation between the buyer and the seller where we can eliminate credit risk, where we can create transparency and we can deliver cash to the supplier more cost effectively than previously.”
Credits: Screenshots from bloomberg.com.