VonWood
finmid
Bridging the financing gap: VonWood's role in revolutionising timber trade
VonWood aims to streamline the timber trade, making it more efficient, transparent, and accessible. The platform leverages the latest technologies to provide innovative solutions, fostering sustainability and efficiency in the timber industry.
Challenge
VonWood is at the forefront of digitalising the timber trade. Established with a vision to merge traditional practices with digital and financing solutions, VonWood aims to streamline the timber trade, making it more efficient, transparent, and accessible.
VonWood is constantly looking for ways to improve business in the timber trade and add value to the marketplace to offer a better customer experience.
They recognized a significant challenge: traditionally, timber trading was unreliable and opaque, often resulting in a financing gap between buyers and sellers. Smaller buyers often faced distrust from sellers who typically required payment before delivery, resulting in unneeded financial risks.
Traditional financial providers struggle to solve these problems because they rely on established credit histories and slow, manual processes. This makes it difficult for them to verify transactions and offer timely financing, especially for smaller buyers.
Solution
VonWood aimed to bridge the financing gap in timber trade by launching VonWood Pay, powered by finmid. This service offers instant payouts to sellers and extended payment terms to buyers, modernising the entire timber trade process. David De Jong, CEO of VonWood, emphasises: “The flexibility and speed in which we could start offering financial services on the VonWood platform made finmid our clear embedded finance partner of choice.”
VonWood’s integration with existing timber suppliers extends its market reach and provides a turnkey infrastructure, allowing sellers to deliver optimal value to their buyers. Minck Hermans, COO of VonWood, notes, “We’ve spent a tremendous amount of time reviewing various B2B financing platforms, and right away it was clear: finmid is the perfect provider that offers us end-to-end solutions, tailored to our own as well as buyers and sellers’ needs.”
70%
transactions move through VonWood Pay
200%
growth since implementation
Results
Currently, over 70% of VonWood transactions move through VonWood Pay. The platform has seen nearly 200% growth year-to-date since implementing the finmid-powered financing solution compared to the previous year.
VonWood Pay benefits sellers with fast, guaranteed payments and empowers buyers with flexible cash flow management, freeing up working capital for further investment and growth. The financial flexibility helps buyers seize opportunities in the timber market more efficiently.
Moreover, this financing solution helps VonWood scale its business and capture more market share in the wood industry. The VonWood marketplace broadens access to supply and demand, offering guaranteed delivery, payment, and transparency. Expanding internationally enhances the platform's value, creating a growth cycle that benefits its users.
Financing solutions are crucial in this expansion, enabling VonWood to support the timber industry's growth. The platform promotes the sustainable use of wood in construction and provides insights into the wood's origin and quality. Each transaction is offset by planting additional trees, reinforcing their commitment to sustainability.
Outlook
VonWood envisions a future-proof timber industry, becoming the go-to platform for financing timber transactions. finmid is the ideal partner to make this vision become reality. David De Jong, CEO of VonWood highlights, “finmid shares our pioneering spirit and vision. With their solutions and our platform, we're empowering both buyers and sellers to thrive in this rapidly changing market.
About VonWood
VonWood is at the forefront of digitalising the timber trade. Established with a vision to merge traditional practices with cutting-edge digital and financing solutions, VonWood aims to streamline the timber trade, making it more efficient, transparent, and accessible. The platform leverages the latest technologies to provide innovative solutions, fostering sustainability and efficiency in the timber industry. With a commitment to excellence and a passion for innovation, VonWood is set to become a leading name in the digital timber trade.
The platform offers a wide range of features useful to both buyers and sellers in the timber industry. If you would like to find out how VonWood can help your business buy or sell timber or if you have any questions, you can get in touch with them at info@vonwood.com.
About finmid
finmid is the financial infrastructure provider to today's most popular platforms. With just a few lines of code, finmid enables any B2B software platform to offer financing to their customers at scale, driving revenue and customer retention. The finmid API allows B2B software platforms to build flexible financing solutions with best-in-class user experience. Founded in 2021, finmid is the emerging leader in European financial services infrastructure, backed by leading tech investors. The company is headquartered in Berlin, Germany. To learn more about finmid, visit finmid.com.
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