Your experienced TradeTech partner
Entrepreneurs are the driving forces of change. That’s why we empower TradeTech enthusiasts to launch or grow their businesses. AREA42 is a trade technology venture builder with a strong focus on disrupting how we trade products and services.
AN AREA42 Story
Since its launch at the start of 2019, AREA42 has had a long-term vision: to recode trade for the digital era.
But, how and why did AREA42 start? The (not so) simple answer is credit insurance bankers contemplating 3D printing!
‘What does 3D printing have to do with TradeTech?’ you might ask yourself quizzically. Well, theoretically, if something can be delivered immediately the receiver can also pay for it immediately. In that scenario, you don’t need credit insurance, because there’s no risk asking to be insured.
‘But wait,’ your keen business mind may say, ‘I’m not so worried about credit insurance. My main concern is that my business doesn’t want to pay immediately - we must manage our cash flow very carefully!’
AREA42 transferred the disruptive idea of immediacy to the mission of balancing commercial demands and technical possibilities to find risk savvy ways to make B2B more fluid.
Enter the budding B2B marketplace space. The main issue was this: if B2B marketplaces are based on how well-established B2C marketplaces were operating, that would not be appealing to businesses. Why? Whereas a consumer is used to paying immediately or delayed with a credit card, businesses don’t want to pay immediately and generally don't put large transactions on cards.
Instead, they traditionally prefer payment terms so they can manage their cash flow over time and in their favour. Also, marketplace managers needed an easier way to connect and make sense of the spaghetti-like web of APIs needed to put together efficient and functioning B2B marketplaces.
The emerging B2B marketplace issues created the opportunities for TradeTech solutions. First, Kamel Tansaout (CEO, Marjory) and AREA42 deep dive into collaboration to create a low-code process orchestrator to solve the API spaghetti issue - the result is Marjory.
What about the cash flow question? Terms.Tech, which is led by Product Manager Jessica Nemeth, is AREA42’s credit solution for payment terms - a fast, secure, flexible, and easy-to-integrate buy now, pay later solution facilitating smooth and secure B2B transactions.
A new question emerged - how would Terms.Tech collect and transfer the money from transactions? AREA42 joined forces with an EEA-licensed payment service provider called Digiteal, managed by its CEO, Cédric Nève. Lode Vermeersch, the Head of AREA42, sits on Digiteal’s Board of Directors.
With these efforts AREA42 has been making progress on the initial problem statement. We create new tech possibilities to enable risk-savvy B2B transactions, addressing traditional business concerns while smoothing out trade.
AREA42 continues to search for new problem statements and their potential TradeTech solutions and is accelerating this through our venture building programme, MISSION42.