Xometry Helps American Manufacturers Better Manage Cash Flow Through Launch of Xometry Pay Invoicing Platform

Enables manufacturers to easily provide payment terms to customers, accept credit cards, and receive job advances

February 10, 2021 10:03 AM EST

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ROCKVILLE, Md., Feb. 10, 2021 /PRNewswire/ -- Xometry, the largest U.S. marketplace for custom manufacturing, today released Xometry Pay, its new suite of payment products that allows machine shops and custom manufacturers to quickly accept credit cards and offer payment terms for their customers, backed by Xometry. This product is now available to manufacturers currently in Xometry's network as well as the broader manufacturing community.

"Xometry's success to date has come from building a network of small- and medium-sized manufacturers and delivering work to them through our AI-driven platform," said Xometry CEO Randy Altschuler. "Xometry Pay represents the expansion of our offerings. Xometry is now the destination for small manufacturers to improve their business efficiency. Whether you choose to accept jobs through our platform or on your own, Xometry will manage collection and offer predictable payment terms to you and your customers."

Xometry Pay follows the release of the Xometry Advance Card and FastPay -- two tools that enhance cash flow flexibility. With Xometry Pay, any manufacturer can use these services on any job. This includes 30% payment advances at the start of the job, the remaining payment net-30, and accelerated payment options if needed.

Manufacturers and their customers can begin using these services immediately after filling out a simple online registration form, and there is no commitment required. To encourage custom manufacturers to see how Xometry Pay can benefit their business, Xometry is offering a free 90-day introductory period.

How to get started: All machine shops and custom manufacturers are eligible to enroll immediately. Visit xometry.com/supplier and provide basic business information. Onboarding takes just a few minutes, and then you are ready to process your first Purchase Order and get your customers set up with payment terms.

About XometryXometry is the largest marketplace for custom manufacturing, connecting customers with optimal manufacturing solutions through proprietary AI algorithms. Xometry provides on-demand manufacturing and industrial supply materials to a diverse customer base, ranging from startups to Fortune 100 companies, including BMW, Dell Technologies, General Electric, Bosch, and NASA. Our nationwide network of thousands of supplier manufacturing facilities enables us to maintain consistently fast lead times while offering a broad array of capabilities, including CNC machining, 3D printing, sheet metal fabrication, injection molding, and urethane casting. Xometry also offers its supplier network an array of financing solutions to help improve cash flow and achieve better growth and efficiency.

Learn more about Xometry at www.xometry.com or on Twitter at @xometry.

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SOURCE Xometry



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