Qwil is an automated global payments and liquidity solution that allows SMBs & freelancers to get paid how, when, and wherever they choose.
Qwil enables companies and marketplaces to easily manage their independent contractor workforce, streamline payments to over 200 countries, and track compliance - all at a market beating price of $1 per contractor per pay cycle.
Qwil was founded in 2015 by Johnny Reinsch, Trevor Branon, and Paul Tiplady. The company is headquartered in San Francisco, California.
Qwil empowers freelancers and SMBs with cash flow. lt provides access to funds, early payment and easy onboarding no matter what the use case.
Qwil works with freelancers and on-demand marketplaces to get paid on time or sooner than their invoices are due. It does not look at the traditional credit scores while deciding on the loan eligibility, and instead uses information like payment data, which helps the company’s costs at a manageable level.
Qwil is backed by Jefferies Financial Group, PeakSpan, Mosaik Partners, Reciprocal Ventures, Silicon Valley Bank, Cantos and others. The company raised $24.4M in Equity and $200M in Debt funding on Dec 11, 2019. This brings Qwil's total funding raised to $331.5M to date.