Kanda - the quote, invoicing and financing solution for tradespeople
by Startacus Admin
The lowdown on Kanda, the fintech startup that's on a mission to help tradespeople build their businesses and win better work.
Any entrepreneur or freelance worker of any kind will likely have had experience of clients not paying for the work they hired them to do, whether because they change their minds, decide the work isn’t up to their impossible standards, or just think they can get away with it.
A lot of people don’t have the time or the knowledge or the foresight to have their clients sign a simple contract or agreement holding them to the price agreed. So wouldn’t it be good to have a solution that does this for you, while giving the client some peace of mind that you’re not going to try to rip them off either, and on top of that also verify that the client is financially capable of paying?
That’s what Henley-based fintech startup Kanda was set up to do for tradespeople like electricians, plumbers, kitchen fitters, and gas engineers.
When a client wants to hire a tradesperson, the app emails them a simple application form to fill in, which includes a deposit agreement, and they receive confirmation of whether they are approved in under a minute. This is based on Kanda’s credit check through its connections to finance companies. The app also sends out the initial quotes for the required work and the invoices, and when it comes time to pay those invoices, the client signs off on the work through the app, with the startup acting as a mediator in any disagreements.
An additional benefit of using Kanda is that the app can offer finance options to the client, allowing them to pay monthly rather than in one lump sum, but the tradesperson is still paid the full amount all at once. This can help make you a more attractive option to clients on bigger jobs, where others wouldn’t be in the position to allow monthly payments.
In January 2020, Kanda was selected to be a part of Y Combinator in California and now, a year later, they have started their search for a £1 million investment to help them grow and expand further into Europe.
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Published on: 18th January 2022
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