A Philadelphia-based finance startup has spent the last few months in Silicon Valley, reaping the advantages of the prestigious accelerator Y Combinator.
Tesorio helps speed up transactions between companies and their vendors with its cloud platform and proprietary algorithm. As companies don't always have the cash on hand to pay vendors immediately and must take out a line of credit, Tesorio determines what that company can pay for the fastest.
"There are trillions of dollars in trade payments made everyday between companies," said Carlos Vega, a co-founder of Tesorio. "While the other companies are focused on accounting automation workflows, we're focusing on the finance angle and making sure it’s a win-win for all parties." Read more about Tesorio's opportunity here.