Qwil claims a zero percent default rate on freelancer payment advances
Johnny Reinsch · EP 505: Qwil.co Pre-Pays Contractors/Freelancers $10M in 2016 with CEO Johnny Reinsch · Dec 11, 2016 · at 10:32
Johnny Reinsch is the co-founder and CEO of Qwil.co, a fintech company providing invoice advances to freelancers.
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“Currently zero.”
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More from Johnny Reinsch
Reinsch: In-office colocation is always preferable to remote engineering teams
“Well it's always better to have in my opinion, you know, every, the team all in one place.”
Qwil generated low seven-figure transaction volume in its first year
“I would say transaction volume is in low seven figures for the first year. That's a little misleading cause we haven't been live for that whole year. So that's actually transaction volume over the course of a few months.”
Qwil predicts eight-figure transaction volume by the end of 2016
“We should be pushing you know, eight figures, I would imagine.”
Between 25% and 50% of users accept Qwil's payment advances
“We find that somewhere between 25 to 50% of the advances that are offered or taken for various reasons.”