Inspiration

There are 300M un/underbanked freelancers globally. Qwil is a public benefit corporation whose mission is to give freelancers convenient and cost effective access to financial services. We do this by providing freelancers with liquidity on their unpaid invoices - allowing them to have better control over their cash flow and certainty of payment. We believe we can help more freelancers by integrating Qwil with Xero and giving Xero companies access to our global payout rails and freelancer management tools.

What it does

Qwil allows companies of all sizes to easily manage their freelancer workforce, streamline payments, and track compliance. Qwil also helps freelancers by advancing amounts earned ahead of when their invoices are paid - a perk that increases both workforce recruitment and retention without any impact on the company or marketplace’s cash flow. With Qwil’s Xero integration all of this functionality syncs back to Xero - a seamless combination of beautiful accounting software with built-in global payments and freelancer liquidity.

Specifically

For companies, Qwil helps with:

  • onboarding freelancers
  • paying freelancers anywhere in the world
  • syncing all pending and paid bills back to xero
  • filing 1099s (U.S.)

For freelancers, Qwil helps with:

  • accepting payments in home currency
  • Accessing cash held in "pending" invoices before payment (Qwil funds the advances)
  • Managing and tracking historic earnings

How we built it

We leveraged the Xero APIs to reflect a few things on the Qwil side: auth, contact creation, invoice creation, sync (both periodic and push) and reconciliation of data back as soon as amounts are paid.

Accomplishments that we're proud of

Companies can easily link their Xero account to Qwil with the click of a button.

We also made it very easy to establish contact groups that would be linked to Qwil.

Payments also show up as "pending" in Xero as soon as they are synced. Once paid, the amounts will reconcile as "paid" in Xero once synced back. #gamechanger

What we learned

Accounting is complicated :-)

What's next for Qwil + Xero: Global freelancer payments and liquidity

We're psyched to roll out the service to as many Xero companies as possible. We're currently in the process of certification so we can launch more broadly within the Xero marketplace.

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