Shergaun Roserie and Keeghan Patrick are changing government finance. These two Saint Lucian entrepreneurs lead the way. Their journey started with technology. It evolved into a financial solution. They aim to fix payment delays. This impacts contractors globally.
The Founders’ Vision Takes Shape
Roserie and Patrick first met young. They competed in a robotics event in 2017. Their partnership was clear. It laid the groundwork for success. By 2020, they launched Orbtronics. This company focused on digital transformation. Orbtronics modernized governments. It served many Caribbean enterprises. They improved workflows. They digitized public sectors.
The Persistent Problem of Delayed Payments
However, a critical issue emerged. Government contractors faced long waits. They delivered work but received payments months later. This created severe cash flow problems. Small businesses struggled. They could not sustain operations. Many faced financial risk. Growth stalled for numerous enterprises. This problem was not unique. Global studies showed significant economic costs. Delayed payments impacted GDP. Many countries faced similar arrears.
Rifbid: A New Financial Infrastructure
The founders realized a new approach was needed. Tools for procurement were not enough. The core challenge was cash flow. This insight led to Rifbid. It is a new fintech platform. Rifbid transforms government invoices. It treats them as valuable assets. Contractors upload verified invoices. These become digital financial instruments. Investors can then participate.
Immediate Liquidity for Suppliers
Rifbid provides instant solutions. Suppliers receive immediate liquidity. They get about 90% of their invoice value upfront. This critical funding keeps businesses running. It allows for continued operations. Investors earn returns. They gain yield when the government pays. Rifbid facilitates this transaction. It charges a small service fee.
Tokenization and Global Ambitions
This innovative model uses tokenization technology. It converts slow-moving assets. It makes them faster and more transparent. The founders saw a global need. Their solution is not just regional. Rifbid plans to launch in the United States. This market has large procurement volumes. Clear transparency standards exist there. The company intends to expand further. It will reach across the Americas. Then, it will target global markets.
A Future of Financial Inclusion
Rifbid is raising significant funds. It seeks $1.5 million. This will launch its tokenized system. The potential market is vast. It could reach multi-billion dollar valuations. The work began on a small island. It now offers a global model. Rifbid’s technology can reshape finance. It can foster economic development. It promotes financial inclusion worldwide. This Caribbean technology news is significant. It heralds a new era for government finance.