Founder of XPO, Lotanna Ezeike is a 23-year-old Londoner set on relieving the pain point in the brand-influencer relationship – timely payments. When an influencer endorses a product, the brand pays them 30 to 120 days after the product has been endorsed.
This is a tricky situation as influencers shouldn’t have to wait that long to get paid, but if brands started paying everybody upfront then they will lose cashflow. Lotanna Ezeike explained to us how his app XPO helps solve this problem.
He told us that, “The influencer puts in a request for immediate payment for delivered content. Then XPO requests capital from its partner Sonovate and charges 10% on the invoice value. The brand then pays XPO the total invoice amount in 30-120 days.”
XPO’s existence is beneficial to brands as well as influencers. Through XPO brands can gain more trust with influencers, spend less time on managing invoices and free themselves of capital pressure. And with XPO’s help influencers get instant payments and better cash flow.
As of now, XPO handles 2000 influencers and growing month on month.
Lotanna revealed some of his future plans to us, he wishes to provide XPO as an alternate payout option to influencers when they work with big brands like BooHoo and Nike. He is also looking at expanding XPO.