Technology

A Chat with Justin Floyd, CEO and Founder at Open Commerce Platform: RedCloud

RedCloud’s open commerce platform integrates a B2B marketplace, digital payments and marketing intelligence so that brands can accelerate sales growth and market reach.

This allows for global access to the world’s consumer products and improves the efficiency of supply chains by connecting and enabling brand manufacturers, distributors and merchants to trade digitally. Among the services we provide is access to digitized payments, which eliminates the risks associated with cash handling, while offering real-time data about inventory management.

We also enable the mass, low-cost distribution of consumer goods through a single app, anywhere in the world. The app, called Red101, is designed specifically for use by small, local merchants.

RedCloud Technology

How did you come up with the idea for RedCloud?

We recognized that, around the world, there are currently over one billion micro-businesses that are unbanked and are therefore excluded financially through no fault of their own. Our open commerce platform is built to empower and enrich these businesses, which are projected to serve over five billion customers by 2025.

How has the company evolved during the pandemic?

We have observed great opportunities during the pandemic. FMCGs, distributors and wholesalers within emerging markets realized there was a need for digital transformation if supply chains of consumer goods companies and the global shipping industry were to survive the ravages of the Covid crisis.

Where cash became a high risk for Covid transmission, there was a need for digital payments, which provided faster transactions and opportunities to sell more products. When the supply chain fuel crisis hit, it further highlighted how fragile these global systems and infrastructures are.

What can we hope to see from RedCloud in the future?

RedCloud is on a mission to digitize and empower an economy of one billion micro-businesses on a global basis, giving them the freedom to trade anywhere through an open commerce platform with the world’s largest local payment network. In the next few months, a super app will be combined with marketplace and digital products, enabling merchants to sell digital product services to their customers and place digital orders. This will help them to keep their shelves stocked and expand their product range within their stores to attract more business.

We are further enhancing our payment proposition by offering inventory financing, which frees up sellers and makes credit accessible for them to continue placing orders and selling products in their store. We have also introduced a click and collect service, which speeds up the digital ordering process and gives sellers the option to conveniently collect their order from their nearest supplier.

https://techround.co.uk/interviews/a-chat-with-justin-floyd-redcloud/?utm_source=rss&utm_medium=rss&utm_campaign=a-chat-with-justin-floyd-redcloud A Chat with Justin Floyd, CEO and Founder at Open Commerce Platform: RedCloud

Fry Electronics Team

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