Timelio

About Timelio

Timelio is a fintech company operating in the specialized finance sector, focusing on providing working capital solutions to Australian small and medium-sized enterprises (SMEs). The company was founded in Melbourne in 2014, originally as InvoiceBid, by the husband-and-wife team Charlotte and Andrew Petris. Charlotte Petris, who served as CEO for over seven years, co-founded the company seeing an opportunity to use technology to better serve businesses struggling with traditional financing. The founders exited the business in July 2022.

Timelio's core business revolves around invoice financing, which allows businesses to receive early payment on their outstanding invoices rather than waiting for the typical 30 to 90-day payment terms. This service is delivered through an online platform where businesses can upload invoices for funding. The company also offers supply chain finance for larger businesses and their suppliers, as well as trade finance. The business model generates revenue through fees applied for early payment, which consist of a fixed service fee and a discount rate calculated on a daily basis. Its client base spans various industries, including labour hire, recruitment, transport and logistics, wholesalers, and manufacturing.

The company experienced significant growth milestones, including a $5 million funding round in 2016 led by Thorney Investment Group. A major development occurred in October 2021 when Timelio secured a warehouse funding facility of up to $270 million, with Goldman Sachs as the senior lender, to support its expansion. In February 2022, Timelio acquired the invoice finance business from Bendigo and Adelaide Bank, which grew its funding book to over $100 million. Following the departure of its founders, Timelio raised $7.5 million in August 2022 from existing shareholders. On November 13, 2023, the ASX-listed company Earlypay acquired selected assets of Timelio, including its customer receivables, IP, and software. The acquisition added approximately $40 million in funds in use to Earlypay's portfolio and included Timelio's Supplier Early Payment platform.