
Massive growth in the Gig Economy has resulted in the conception of numerous platforms which connect contractors and freelancers with organisations in search of talent.
With Hokodo, freelancers get paid on time, without impacting the balance sheet of the platform.
Over 3 million jobs are posted to global freelancing platform Upwork annually, with the marketplace reporting over $1 billion in freelancer earnings per year.However, the way that contractors are paid for their work leaves much to be desired.
Typically, large organisations insist on payment terms when invoiced for projects. Meanwhile, the freelancer requires payment as soon as the work is completed. So, either the contractor must wait to get paid, or the financing burden falls on the platform or marketplace connecting the two parties.
By offering financing on invoices raised within the platform, Hokodo solves the payment issues of the Gig Economy.
Our digital trade credit solution allows marketplaces to retain and attract freelancers and clients, while remaining protected from risk.
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How we help freelance management platforms & marketplaces
Access more working capital.
Freelancers require upfront payment, while the large organisations they work with expect to pay on terms. The connector platform therefore often pays the freelancer before being paid by the client, putting strain on their working capital. Hokodo pays you as soon as work is complete, so you can keep both parties happy while preserving your cash flow.
Stay competitive.
As the Gig Economy continues to grow, an increasing number of websites, marketplaces and solutions are being created to bring freelancers and organisations together. In such a saturated market, contractors and clients will remain loyal to the platforms offering the best service and the most desirable payment terms.
The standard payment method. Modernised.
The nature of the Gig Economy means that payments are typically issued as an invoice with payment terms. Hokodo’s digital trade credit solution takes the payment method you are used to and brings it into the 21st century.
How it works
Want to find out more about how Hokodo can help you to free up working capital and grow your freelancer management platform?
Bring your business into the 21st century with a trade credit solution built for the Gig Economy.