Success Story – Petnet 2017-05-10T04:31:07+00:00

Petnet Uses Payability to Accelerate Earnings from Amazon

receives working capital they need to keep up with increasing sales

Background

Petnet is the leading provider of smart home pet technologies that helps pet-owners stay connected with their pet’s health. Petnet products are driven by a team of designers, engineers and pet food experts who are committed to digitizing the pet industry through next-generation products for pet owners.

The Challenge

Petnet’s SmartFeeder, winner of the prestigious 2015 Consumer Electronics Association (CES) Innovation Award, successfully sold through on Amazon but had a difficult time financing because of Net 60 standard payment terms. To put things in perspective: Petnet received their 4th Amazon Purchase Order for 10,000 units before they even received payment on the initial PO. Petnet needed financing to increase inventory to keep up with demand.

Petnet had orders for 40,000 units, but with Net 60 payment terms they were still waiting to get paid for their first order

“Our sell through on Amazon has been amazing, but our sell-in was challenged because we didn’t have the working capital to finance the growing purchase orders.”
— Carlos Herrera, CEO & Founder of Petnet

The Result

Payability stepped in and was able to fund $130,000 within 5 days of when Petnet signed up. 

Payability provided the needed cash flow for order fulfillment and ongoing growth

This capital was immediately put back into inventory to fulfill purchase orders.

Create Your Account Now

Have Questions? We’d Love to Talk to You. Contact Sales.