Witz Group Funds Opportunistic Vendor Purchases via Quartix

Witz Group (“Witz”) developed a unique one-stop-shop model for traditional retail brands that want to leverage the largest e-Commerce platforms to boost their own sales. As more and more retail brands chose to partner with Witz, Simon Feldman, Witz’s VP Finance needed to fund Witz’s growing working capital needs. With Quartix, Witz found a digital, corporate-grade Buy Now Pay Later solution that allows Witz to strategically cater to vendor-specific payment terms.

The Client: A one-stop-shop link between tradition retail brands and e-Commerce giants

Many retail brands struggle to enter e-Commerce and this is due to their lack of experience, talent and time. Witz provides a one-stop-shop for health & beauty brands to sell over 25,000 products and grow their brand on Amazon, Walmart.com, Ebay, and more. They help brands with offering everything from purchasing inventory and fulfilling orders to marketing services, brand management and data analytics.

The Challenge: Supporting rapid growth by increasing purchasing

As a part of its one-stop-shop model, Witz buys product wholesale at low prices and reselling them online and through exclusive partnerships with brands. In order to buy large quantities of goods and pay vendors quickly, Witz needed access to a flexible, uncommitted liquidity source, to be able draw funding quickly and repay easily to avoid unnecessary expenses.

The Solution: On-demand, same-day funding for opportunistic vendor purchases

Quartix unlocked an unsecured, uncommitted Buy Now / Pay Later credit line to Witz, giving Witz access to Quartix’s digital platform and capital. When a payment was approved by Witz, Quartix sent Witz a digital offer to get the funds needed to make a timely payment to the vendor. Witz could accept or decline the offer based on its capital needs at that point in time.  Witz is also able to choose when it wants to repay Quartix, having the ability to pay back months down the road. The process is completely transparent to Witz vendors.

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Quartix helped us respond quickly to opportunities, giving us a competitive edge in terms of price and product availability. Its flexibility allowed us to act fast, while meeting vendor and customer expectations

Simon Feldman

VP Finance, Witz Group

The Impact: Improved competitiveness and profitability

The e-Commerce industry is competitive and characterized by thin margins. Being able to capitalize on opportunities while controlling cost of capital is key to success. Quartix’s Buy Now / Pay Later solution allowed Witz to capitalize on opportunities to purchase goods at low prices quickly, while optimizing financing costs on a pay-per-transaction mode. This positions Witz as a premium, prioritized buyer in the eyes of their vendors, supporting long term relations and reducing vendor turnover.

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The implementation and day-to-day operation are seamless taking less than 2 weeks from first phone call to funding. The interface is 100% digital and funding is a few clicks away

Simon Feldman

VP Finance, Witz Group

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