We have decided to suspend the public sale of Payblok because:
We are securing enough funding needed to execute our roadmap
The strategic nature of some of these funds enable us to deliver on our vision to provide business financial services in 6 months instead of 18 months.
We are really excited about this and what it means for the company and expect to be able to share more details by September 21.
Any non-institutional funds that participated in the pre-sale will be refunded by August 17 as a condition of securing these funds. We are determining the best ways to distribute PayBlok to our user network in the future and will have a decision on this by December 2018.
Businesses currently using our platform.
The year our platform was launched.
The total value of transactions handled annually by our platform.
$20 Trillion +
The annual amount of SMB invoices that can benefit from financing, worldwide.
Lee Pruitt (CEO @ InstaSupply) presenting PayBlok at the Blockchain Alternative Investment Conference in London
The InstaSupply platform
Aiming to improve how quickly businesses pay and get paid, InstaSupply is a cloud platform which allows businesses to track and control spend across suppliers. We bring together purchase ordering; approval workflows; budget control; delivery tracking; supplier and product management; secure invoice and credit document storage and data collection; accounting reconciliation; and payment control.
A sizeable problem
Small businesses have $20T+ in outstanding receivables, take an average of 60 days to get paid, with 50% still paid late. Options for solving these challenges are expensive and limited, but InstaSupply is already involved in tracking and reducing this kind of issue.
A working solution
The InstaSupply platform is already supporting the trade of over 2300 businesses, and is growing daily. By allowing businesses to match purchase orders to deliveries, and finally to invoices, we provide them with an opportunity to control which invoices should be paid, and which require further investigation. What's more, with our Payment Run product, businesses can group together the approved invoices, apply any outstanding supplier credit, and generate a list of payments to be made to suppliers through their traditional banking services.
Taking the tokenization of trade finance to its logical conclusion, Lee Pruitt, the CEO of ethereum-based startup InstaSupply, said the whole process can be opened up so that banks are no longer required to loan money against invoices.
The Amazon Of B2B, InstaSupply, Aims To Run A Full Blockchain Transaction Paid For In Cryptocurrency
The company is looking at blockchain technology to streamline invoice payment, purchase orders and other procurement necessities.
Our upcoming events calendar
Come meet us at these upcoming events:
Las Vegas - 20th & 21st August 2018Meet us
MEET US DURING THE NETWORKING SESSION
Consensus Singapore 2018
Singapore - 19th to 20th September 2018Meet us
MEET US DURING THE NETWORKING SESSION
Asset Backed Crypto Summit
Lisbon (Portugal) - 28th & 29th September 2018Meet us
MEET US DURING THE NETWORKING SESSION
Lee Pruitt as panellist @ Techcrunch Sessions Blockchain - 6th July 2018
InstaSupply hosted a discussion panel where Lee Pruitt, Michael Jackson (Mangrove Capital Partners), Jamie Burke (Outlier Ventures) and Joon Ian Wong (CoinDesk) discussed how crypto assets are the real financial innovation.
Lee Pruitt & Tim Huegdon as panellists @ London Fintech Week - 11th July 2018
InstaSupply CEO Lee Pruitt was on panel that discussed Blockchain in Finance & Enterprise.
He was joined on stage by Stewie Zhu (Distributed Credit Chain),Vikram Kimyani (Oracle), Ajit Tripathi (ConsenSys) and Ben Wyeth (Royal Bank of Scotland).
InstaSupply CTO Tim Huegdon was on a panel discussing the future impact of Blockchain on our society and the growth factors involved.
He was joined on stage with Daniel Doll-Steinberg (Atari.Token), Adam Stradling (BitcoinCom) and Ashley Fox (SW England & Gibraltar MEP).
Lee Pruitt interview with Proactive Investors Stocktube - 10th July 2018
Lee Pruitt was interviewed on Youtube Channel Proactive Investors Stocktube, presenting InstaSupply's solution for helping businesses get paid faster.
Lee Pruitt as panellist @ The Europas - 3rd July 2018
Lee Pruitt joined a panel discussing tokeneconomics, alongside Thomas Graham (CEO @ TLDR Capital) and Ami Ben David (Co-Founder and Managing Partner @ SPiCE Venture Capital).
Lee Pruitt as panellist @ Blockchain Summit London - 27th June 2018
Lee Pruitt joined a panel discussing the short and long term potential for #cryptocurrencies.
With him on stage were Matthew Farrar (BBC), Mehrak Hamzeh (CryptoFuse), Gurvinder Ahluwalia (Beyond Protocol) and moderator Bob Keith of Crypto Disrupt.
Fireside chat - Lee Pruitt & Gurvinder Ahluwalia @ Blockchain Summit London - 27th June 2018
Lee Pruitt (CEO @ InstaSupply) & Gurvinder Ahluwalia (COO @ Beyond Protocol) discuss the place of crypto assets within blockchain.
The discussion focuses on the opportunities for using Distributed Ledger Technology for asset tokenization, beyond the typical use of DLT as cost-cutting efficiency play.
Lee Pruitt as panellist @ The Pathfounder - 22nd June 2018
Lee Pruit joined Mike Butcher (editor @ Techcrunch), Edan Yago (CEO @ Reserve) and Javed Khattak (CFO @ Humaniq) for a panel discussion titled Blockchain: Banking the Unbanked
Lee Pruitt as panellist @ Blockchain Alternative Investment Conference - 19th June 2018
Lee Pruitt takes part in the panel "Peering into the future: revolutionary Fintech Applications on the Blockchain", alongside Olga Feldmeier (CEO @ Smart Valor), Jonathan Chang (CEO @ Nauticus) and moderator Joon Ian Wong (Managing Director @ Coindesk).
Tim Huegdon as panellist @ Blockchain Economic Forum panel - 18th June 2018
Tim Huegdon was on a panel discussing investments and value drivers of the Blockchain economy.
Joining him in the discussion were Kevin Ding (DHVC), Adam Draper (BOOST VC), Dinis Guarda (LIFESDNA), Croom Beatty (MENLO VENTURES) and Luke Lombe (PLAYUP).
Tim Huegdon presenting InstaSupply @ Blockchain Economic Forum - 18th June 2018
Tim Huegdon presents InstaSupply and the PayBlok token at the Blockchain Economic Conference in San francisco.
Lee Pruitt as panellist @ BlockShow Europe - 28th May 2018
Lee Pruitt presents InstaSupply and the PayBlok token at Blockshow Europe in Berlin
The InstaSupply team
Co-founder and CIO/CTO
Tim has over 17 years experience working as a senior web software leader and developer. His work history includes upper managerial technical positions at Amazon, Yahoo! UK, Betfair, as well as Rentokil Initial.
Co-founder and CEO
12 years commercial experience selling B2B ecommerce and eprocurement solutions. Lee led global B2B eprocurement solutions for Grainger (the world’s largest B2B e-retailer) and started Tizaro, the largest online European ecommerce B2B distribution.
Head of Technology
Neil has 11 years of software development and managerial experience. His professional career began at Mintel, and has since included other leading global brands such as Yahoo! UK, the BBC and Amazon.
Chief Technical Architect
Mike has 19 years of software development experience. His career has lead him through a number of global brands, starting with IBM, before moving on to Legal & General, Yahoo! UK and Amazon.
Peter has been coding since he was 14 years old, and professionally for the past 6 years. He is an active member of the blockchain community.
Head of User Experience
With 17 years experience as a web developer and user-experience specialist. He is a passionate front-end developer that has worked mostly with start-ups throughout his career, with the exception of the time he spent as a software engineer at Amazon.
Head of Business Intelligence
Marcus has 8 years in procurement for large companies in several industries including consultancy, mining, and telecommunications. At InstaSupply he focuses on analyzing trends and surfacing valued data captured within InstaSupply.
Digital Marketing Director
Martin has over 10 years experience in digital marketing, amongst companies ranging from E-commerce, to marketing consultancy, and B2B services. All of these experiences have been with start-ups, driving high growth through performance optimization.
Bruno has 4 years of experience in procurement, which has been equally spent in startups and in multinational companies. At InstaSupply, he analyses data and deals directly with customers, continuously aiming to improve the system.
Customer Success Associate
Suravi has over 3 years experience in customer success and customer management within the banking industry. At InstaSupply she manages all third-party technical partners.
Chris has over 4 years Sales and Account Management experience within the B2B space, consultatively addressing businesses problems and finding solutions to match.
Investor & Director
Riaz is both chairman of the board and senior partner at EY (the global professional services firm) where he is currently responsible for the learning and development of over 70,000 people.
Investor & Advisor
Mark is a veteran investor having served as Managing Director of Goldman Sachs, General Partner of Balderton Capital (previously Benchmark), and is founding LP partner at Kindred Capital.
Mark serves as the appointed accountant for InstaSupply and has 25 years experience in dealing with tax, VAT issues, and company due diligence.
Sarah has over 20 years experience in tax and legal matter for corporate entities such as KPMG and EY. She advises on a wide range of tax issues in finance and capital markets, funds, property and technology.
Frequently Asked Questions
- What problems does PayBlok aim to solve?
PayBlok is a token aimed at solving small and medium size business cash flow problems by offering an early payment function on top of the existing features within the InstaSupply platform, which currently connects buyers and suppliers, matching purchase orders, deliveries, and invoices.
- What is supply chain finance?
Supplier finance optimizes cash flow for businesses by lengthening their payment terms to their suppliers while providing the opportunity for suppliers to get paid early using third party funding.
- How do I participate in the token sale?
Participating in the token sale can be achieved through 3 easy steps:
2. Apply for the whitelist and provide your ether wallet details.
3. Wait for whitelist approval confirmation (via email) and receive a hyperlink to the sale.
- How can I pay for tokens in the sale?
You can currently purchase tokens in our sale with the following means of payment:
- Pay via bank transfer/wire transfer (our bank account is based in the UK). All transfer fees must be paid by the customer purchasing tokens.
- Pay in selected cryptocurrencies via Coinbase (currently accepting: bitcoin, ethereum, litecoin).
Important: InstaSupply reserves the right to amend the means of payment above without notice.
- Who is able to purchase PayBlok tokens?
PayBlok can be purchased by buyers who have been pre-qualified by InstaSupply.
- Is PayBlok an ERC20 Token?
Yes. PayBlok tokens operate on the Ethereum blockchain.
- When will PayBlok tokens be listed on exchanges?
Our intention is to have PayBlok listed on selected exchanges 120 days after the sale.
- When will the tokens be issued?
We will issue tokens to buyers within 24 hours of a purchase being approved.