Inpixon completes financial agreement with Payplant to continue supporting its growing opportunities and accelerating revenue
PALO ALTO, Calif.--(BUSINESS WIRE)--Inpixon (NASDAQ:INPX), a leading indoor positioning analytics company, announced that it has entered into a receivables and purchase order funding agreement with Payplant, LLC and replaced the existing $1.4 million loan to Gemcap. The Payplant facility will allow increased flexibility in meeting working capital needs by processing a growing amount of commercial and government purchase orders.
Inpixon welcomes Payplant as a finance partner, who shares our long-term vision for the company.
“We’re very pleased to welcome Payplant as a finance partner going forward, as Inpixon strengthens its Indoor Positioning Analytics solutions to deliver IoT and wireless device security, customer insight and business intelligence to all indoor premises,” said Nadir Ali, Inpixon CEO. “After separating and refocusing the operations of the Company into Value-Added Reseller and Inpixon Product units, raising $6 million to mostly repay debts, we are excited to establish partnership with Payplant who share our long-term vision of the Company and the market.”
“Inpixon is an emerging leader in a very lucrative market of Indoor Positioning with a respectable customer base and we are happy to support its growth mission,” said Neerav Berry, Payplant CEO & Co-Founder. “Inpixon fits our objective of providing creative financing solutions to businesses with innovative technology and strong management teams.”
Inpixon (NASDAQ: INPX) is a leader in Indoor Positioning and Data Analytics. Inpixon sensors are designed to find all accessible cellular, Wi-Fi, and Bluetooth devices anonymously. Paired with a high performance, data analytics platform this technology delivers visibility, security, and business intelligence on any commercial or government premises world-wide. Inpixon’s products, infrastructure solutions, and professional services group help customers take advantage of mobile, big data, analytics, and the Internet of Things (IoT) to uncover the untold stories of the indoors. For the latest insight on Indoor Positioning and Data Analytics, follow Inpixon on LinkedIn and @InpixonHQ on Twitter.
Payplant provides growth financing for entrepreneurs, by entrepreneurs. Its Pay Me NowTM digital invoice-financing service provides cash to businesses when their customers pay too slowly. Payplant helps businesses with PO and Invoice Financing, Asset Based Lending, Term Loans and Customer Financing products. Payplant works with companies that don’t currently qualify for traditional bank financing, have grown too quickly for their current lender or are at the point in their evolution where an influx of working capital can elevate their business to achieve rapid growth. Payplant delivers fast and reliable funding, at very attractive rates and is completely on demand. For more information, visit www.payplant.com.