CAMPBELL, Calif., June 15, 2021 (Newswire.com) - Crowdz, a California-based invoice finance marketplace, enabling small and medium enterprises (SME) to sell unpaid invoices for working capital, was selected among hundreds of candidates as one of the World Economic Forum's "Technology Pioneers". Crowdz offers an equitable financing solution for SMEs that often struggle to obtain traditional bank financing. Its innovative technology reduces cash flow bottlenecks for SMEs, providing working capital to survive and thrive, whilst providing a profitable vehicle for investors to leverage their bottom line for good.
The World Economic Forum's Technology Pioneers are early to growth-stage companies from around the world that are involved in the use of new technologies and innovation that are poised to have a significant impact on business and society.
With their selection as Technology Pioneer, CEO Payson Johnston of Crowdz will be invited to participate at World Economic Forum activities, events and discussions throughout the year. Crowdz will also contribute to Forum initiatives over the next two years, working with global leaders to help address key industry and societal issues.
"We're excited to welcome Crowdz to our 2021 cohort of Technology Pioneers," says Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. "Crowdz and its fellow pioneers are developing technologies that can help society solve some of its most pressing issues. We look forward to their contribution to the World Economic Forum in its commitment to improving the state of the world."
"Crowdz is proud to be acknowledged as a pioneer by the World Economic Forum. It's humbling to have the Forum recognize the importance of the global issue we're addressing," said Payson Johnston, Crowdz CEO and co-founder.
"After weathering the brunt of the pandemic's economic storm, our most vulnerable companies, the mom-and-pop businesses that power our communities, need more financial support than ever. If this sector of the economy collapses, so does the rest of society. Through our initiatives, such as our Reclaim the Future project, we've created an inclusive financing solution that we hope offers a lifeline to millions of small businesses and suppliers, particularly those that are diverse and minority-owned," said Johnston.
For the first time in the community's history, over 30% of the cohort are led by women. The firms also come from regions all around the world, extending their community far beyond Silicon Valley. This year's cohort includes start-ups from 26 countries, with UAE, El Salvador, Ethiopia and Zimbabwe represented for the first time.
The diversity of these companies extends to their innovations as well. 2021 Tech Pioneer firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain, biotechnology and many more. The full list of Technology Pioneers can be found here.
Technology Pioneers have been selected based on the community's selection criteria, which includes innovation, impact and leadership as well as the company's relevance with the World Economic Forum's Platforms.
All info on this year's Technology Pioneers can be found here: http://wef.ch/techpioneers21
More information on past winners, information on the community and the application link can be found here.
Crowdz is modernizing invoice finance and invoicing practices, particularly for small and midsize businesses, to revolutionize the $9 trillion worldwide receivables market.
The platform offers an alternative finance solution for small businesses that often struggle to obtain traditional bank financing. Its innovative technology, which enables small businesses to sell invoices to funders, reduces cash flow bottlenecks and gives small businesses working capital to survive and thrive.
Founded in 2014, Crowdz is headed by its co-founder and CEO, Payson Johnston, who served for 18 years as global B2B supply-chain Senior Manager for Cisco. Crowdz has raised $13.8 million from investors including Bold Capital Partners, Barclays Bank, Augment Ventures, Global Cleantech Capital, TFX Ventures, and Techstars Ventures. Crowdz's technologies are covered by multiple pending patents. (www.Crowdz.io)
About World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).
About the Technology Pioneers:
The World Economic Forum believes that innovation is critical to the future well-being of society and to driving economic growth. Launched in 2000, the Technology Pioneer community is composed of early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
The World Economic Forum provides the Technology Pioneers community with a platform to engage with the public- and private-sector leaders and to contribute new solutions to overcome the current crisis and build future resiliency.