Learn about Waddle

What is Waddle?

Waddle offers modern invoice finance with a level of greater flexibility and automation than most traditional facilities. It integrates with your cloud accounting package and generates a real-time credit limit based on the value of your invoices. You can select which customers to fund and you only pay for the funds that you draw down. Your credit limit is adjusted in real-time as invoices are raised and paid.

In addition, our platform has two-way data sharing. This means customer payments are received into your Waddle bank account and all transactions are sent to your accounting package via bank feeds so you can reconcile as usual. Best of all you’ll never have to send us an invoice - saving you time to focus on running your business.

Is Waddle factoring?

Waddle is not factoring. Typically factoring requires that you disclose the lender details on the invoice and the financier will take over collections.

Waddle simply extends a line of credit based on the total value of your eligible invoices.

In addition, Waddle is fully confidential, so you remain in charge of collections.

What are Waddle's rates?

Waddle’s rates are amongst the lowest in Australia and are tailored for each business. Your rates will depend on your company’s financial health, the industry you operate in and the size of your facility. With Waddle, you’ll only pay for funds you choose to borrow, not on the face value of invoices, allowing you to further reduce your cost of capital. Simply select ‘Get a quote’ for your rates.

Will applying affect my credit score?

Connecting with Waddle for a quote has no impact on your credit score. Before making funds available, we will need to perform a credit check. Rest assured we will not perform this until we have agreed on pricing and you have let us know that you would like to proceed.

How do I get in touch with Waddle?

You can contact out friendly team by emailing team@waddle.com.au or you can call us on 1300 649 322.

Getting started

Am I right for Waddle?

To be eligible for Waddle you must meet typically meet the following criteria:

  • You invoice other Australian businesses

  • You have been trading for more than 9 months

  • You're an incorporated business (eg. Pty Ltd)

  • You invoice only when work is complete

  • You have at least $10,000 in unpaid invoices

  • You have 3 or more customers

  • You use cloud accounting software (Xero, MYOB or Quickbooks)

We work with businesses in a variety of industries including manufacturing, wholesale, transport, recruitment & labour-hire. Generally, we are not able to assist in construction or retail businesses.

How do I apply for Waddle?

Click “Get a quote” and connect your accounting package for an indicative offer. Once you're connected we’ll be in touch to discuss. This is a good time to ask us questions.

How quickly can I get funded?

Once we have all the required information, we aim to get the funds into your account within 48 hours.

What documents do I need to apply?

You may be asked to provide documents at different stages of the approval process. These can include current and previous financials, identification of directors, tax and bank statements or invoice supporting documents.

What information does Waddle access from my accounting package?

Waddle reviews your company receivables and financial information. This may include: Invoices, Credit Notes, Bank Transactions, Payments, Profit & Loss Statement and Balance Sheet.

Why do I need to connect my accounting package?

It means we can show you an indicative offer in seconds, without you having to send us any paperwork. You’ll be able to see your offer and how the product works, with no obligation to continue, although we hope you'll like it. If you apply for a facility, we keep the connection live so we can keep pace with your business.

What accounting packages does Waddle support?

Currently, we support the following packages:

  • Xero

  • MYOB

  • Intuit Quickbooks Online

  • Netsuite

I don't have a supported accounting package, can I apply?

We are developing integrations with other software providers so register your interest to keep up to date on new developments.

Is there a contract?

As with any loan, you will need to sign an agreement, but there is no fixed term commitment. You can exit penalty-free providing your balance has been paid down to $0.

Will my customers know I'm using Waddle?

No, your facility is confidential, and we do not contact your customers.

How does Waddle protect my data?

Your data is transferred using industry standard 256-bit TLS encryption technology. Waddle houses your data within an Australian data centre configured with multiple firewalls and network intrusion detection technology. All Waddle employees meet stringent reference, credit and criminal checks and only those with a direct requirement can view your data.

What does certified accounting add on mean?

This means Waddle have had to meet strict guidelines from accounting package providers to ensure we fit seamlessly with their software. So, you can count on us the same way you count on them.

Using Waddle

How is my credit limit calculated?

Your credit limit is determined by the total value of your eligible outstanding invoices, as well as the level of funding required. Waddle’s credit team will be in touch to discuss the appropriate level of credit during the assessment and approval stage.

How do I nominate customers?

Once you have been credit approved, you will be asked to log into your Waddle dashboard and select which customers you wish to nominate for funding.

How do I draw funds?

If you're a first-time user of Waddle, your account manager will guide you through the final steps. Once you have been notified that your account is live, you're ready to start drawing funds. Simply hit the drawdown button in your Waddle dashboard and enter the amount you require.

How do repayments work?

Payments from your nominated customers will be directed into your Waddle bank account, which we will set up in the name of your business. These payments pay down any existing balance. You may also make additional payments directly to reduce interest charges. If you have no loan balance with Waddle, any customer payments are automatically sent back to your business bank account.

Do my customers have to change the account they pay to?

Yes, any customers you choose to include in your facility will need to. You will be issued with a new bank account in your company’s name and nominated customers need to be made aware. Any balances drawn will be repaid via your customer’s payments into your new Waddle account, so there are no fixed repayments for you.

How do I add more customers for funding?

Within your Waddle dashboard navigate to the Customers tab. From here you can nominate customers for funding. If you wish to de-nominate a customer simply contact your account manager.

What makes an invoice eligible for funding?

Eligible invoices are:

  • Invoices that have been raised at the completion of providing a good or service

  • That are aged no more than 90 days from issue date

  • That are invoiced to other AU businesses (B2B)

  • That are NOT milestone, staged or progressive invoices

How much of my time will Waddle take up?

Waddle has been designed to take up as little of your time as possible. Drawing down funds takes only a few clicks. Your credit limit is updated in real-time and all transaction data is shared with your accounting package. Also, there is no need to upload invoices.

Will I need to upload invoices?

You will not need to upload invoices. Simply raise them as usual in your accounting package

How is interest calculated?

Interest is calculated daily on your outstanding balance and applied to your loan balance at the end of each calendar month.

How do I pay my interests and fees?

Interest and fees are added to your balance. Your customer payments will simply pay off your balance meaning you do not need to manually pay any fees.

Do you have multi-user access?

Yes. You can create different user profiles and different access permissions once you have a live account.