Case Study: Comet accelerates freelancer invoice payments with Aria

Comet settles freelancer invoices within 72 hours with Aria

Comet, a company that connects IT freelancers with major corporations, faced a challenge in balancing corporate payment terms of 30-60 days with freelancers' need for quick access to their earnings. This created a significant working capital gap, making it unfeasible for Comet to self-fund the timely settlement of hundreds of freelancer invoices each month. To address this, Comet partnered with vendor Aria for its embedded invoice financing service.

The solution from Aria streamlined the financing process, allowing Comet to advance funds to freelancers within days based solely on their submitted invoices. This resulted in flexible and smooth financing, which became a key factor in retaining Comet's freelance community. The measurable impact includes Aria providing €60M in recurring advances in 2022 with a 98% success rate in funding execution, supporting Comet's 70% annual growth.

Comet