Today, a huge number of people are working as freelancers and creators. They're earning through giving services to agencies, brands, affiliate marketing, and through their social media. The Creator economy is booming, but dealing with payments is hard for them. Cash Flow has been a real issue for creators, freelancers, and solopreneurs.
They have to suffer from late payments, deal with paperwork, and use different apps to keep the invoices of their work. They wait for weeks and months for checks to come in. Several apps are helping creators- however, most are battling to manage the back-end tasks of creators' businesses.
Fortunately, a Fintech company, Willa, is focused on simplifying invoicing processes and making superfast payments for creators. It provides a platform creators can use to get paid for their services. If you want to get your payment instantly after sending the professional invoice and get control in your hand, you should go for Willa, a cash advance platform for creators.
Keep reading to learn how it works, the key features of this tool, the pros & cons, and all you need to know about this financial tool to see whether you should use it. Let's get started.
Willa Overview
Willa is a financial application that makes the payment process simpler and more reliable for creators. It is a well-known fintech product for creators, influencers, and professional freelancers that get paid by brands to do paid collaborations and other work. Also, the services are tailored to users who have more than 30,000 social media followers.
Willa is one of the emerging fintech companies challenging old banking methods. Similar services like Paypal and Intuit also offer invoicing tools for creators, but unlike these services, this app pays creators directly. The app ensures that you get your payment instantly after sending the invoice. Most importantly, the app is free to download with no monthly fees or upfront costs.
Willa was founded in 2019. The company is headquartered in Los Angeles, US, and Sweden. So, this Swedish-American startup currently operates in the US and Sweden. It tracks all your paid and unpaid invoices. With this advanced app, you do not have to keep reminding your clients about payments. Willa handles all the work and keeps reminding your clients about your payment and invoice to ensure your payment is on time. So, you'll get paid immediately through the app when you complete the job.
In short, the Willa app is like you have your own finance department. It gives creators a seamless experience, so they no longer have to stress about late and missing payments.
Who founded Willa?
The company is founded by a group of four entrepreneurs- Kristofer Sommestad, Aron Levin, Peter Blom, and Stefan Pettersson. The founders have a background in finance, building and scaling online businesses, and famous consumer platforms like Spotify, Relatable, and Candy Crush.
Founder and CEO of Willa, Kristofer Sommestad, is a Spotify engineer with 20 years of experience in product development and engineering. Aron Levin was a team member at Spotify, and now he is a Marketing Manager at Willa. Peter Bloom was the growth lead at Spotify and is now the Product Design Manager at Willa. Lastly, Stefan Pettersson, CTO at Willa, has a great experience in coding, startups, business, and growth.
Furthermore, the company is funded by EQT Ventures and other leading investors. Willa has raised $21 million in funding in 2 rounds. The percent funding of the company was raised on July 7th, 2021, in a series A round. NewYork-based venture company FinTech Collective led this Series A round. As the company has secured A series funding, it shows the app is safe to use. Besides, the company will scale up its user base and technology and make it available in more countries in the future.
Sommestad said the company is considering providing other financial services, such as credit or lending to creators. Because creators and freelancers with multiple contracts can't get loans or other financial services from traditional financial institutions, which demand a single employment history, he also said it is all about giving you better and swift access to money. In addition, there are many things that need to be fixed for creators and independent contractors today that we want to solve, said Kristofer Sommestad.
How Willa Works?
Willa app is mainly built for creators and freelancers to help them manage their invoices easily and get instant payments from clients and brands. First, you have to download the Willa app and sign up by filling in the required details like phone number, work details, etc. When a user signs up, the app starts invoice factoring. You will have the option to manage your invoice and send it to your client. It is a straightforward process that requires a few clicks to send a professional-looking invoice securely.
After approval of the invoice, the payment will be added quickly to your Willa account in less than 30 minutes. And you can use your money wherever you want without any delay. Willa supports a variety of payment methods, including debit cards, credit cards, cheques, and bank transfers, to make the process easier for your clients. This way, your client doesn't have to download the app to make payments and pay any fee.
Key Features of Willa
Willa comes with valuable features for creators, freelancers, and their clients. Let's take a quick look at these features:
- Free to download and easy to join app- signup & login process is pretty simple.
- Offers fast and easy-to-use tools for creators, freelancers, and their clients.
- Allows making instant transactions with a 2.9% fee.
- Has a secret code that helps track payments. You don't have to track each penny by yourself.
- Makes payment processing simpler.
- No need to send email reminders to clients.
- Allows users to pay invoice documents via credit cards or other payment options.
- Get paid quickly in less than 30 minutes after posting the invoice.
- Amazing customer service.
Willa's Pricing
Willa app is entirely free to download. Creators can send payment requests and collect payments for free, without setup fees or monthly charges. Also, account registration, payment management, customer support, ACH withdrawal, and collections service are free. However, there are small charges for immediate payment features. There is a 1.75% Express Withdrawal fee and a 4.5% cash-out fee.
Willa Pros and Cons
Compared to traditional cash advance apps, there are pros to using Willa for invoicing requirements. Like pros, the app also has a few cons, which you should know. Here are the pros and cons of this financial tool.
Pros
- Free to download and use
- Simplifies the invoicing & payment process
- Get paid instantly with a small fee
- No worries about late & missing payment
- Professionally drafted invoices
- Provides a variety of payment methods
Cons
- Willa is only available in the US.
- Instant payment charges a 2.9% fee.
Is Willa legit?
According to users' reviews and our research, the Willa app is 100% legit to use by creators, freelancers, and brands. Most users have given positive reviews with a 4.8 rating out of 5. There are very few users who have complained about the usefulness of the app. Most users have mentioned no payment delay and are satisfied with the app's performance.
The company guarantees to pay you instant money on your invoice. Not only does the tool make the invoicing process simple for you, but it has also made it easy for your clients to send payments smoothly. Willa is backed by one of the world's famous venture capital firms, EQT ventures. Therefore, your financing is secured in it. So, Willa is a good recommendation for freelancers and creators to get their payments on time.
Willa Alternatives and Competitors
Here are a few Willa competitors that are worth considering.
Lumanu
Lumanu is a cash advance app that offers an all-in-one solution for payments. The platform serves creators, freelancers, influencers, and businesses they work with. It allows the creators to send and receive payments instantly, manage their finances, and expand their business.
According to the company, they're focused on helping creators and empowering them to grow their businesses rather than wasting time on payment and invoicing issues. Like Willa, Lumanu is also handy for creators and freelancers to earn money without delayed payments. Here are the features that Lumanu offers:
- Approve and pay invoices quickly
- Track payments
- Manage payments with a single click
- Allows to send bulk invoices
- Split payments with collaborators
Unlike Willa, Lumanu has three pricing tiers- one free and two paid plans. Their free tier is suitable for freelancers and creators. In contrast, paid plans, including Business Lite ($99/month) and Business Pro ($299/month), are for agencies, brands, and managers.
You can read our full review of Lamanu here. Likewise, if you're deciding between Lumanu and Willa, check out our comparison.
PayPal
PayPal is a popular financial app that simplifies processing payments domestically and internationally. The easy-to-use platform allows users to send and receive money for goods and services. Customers are required to make an account on the platform, which is linked to their credit card or checking account. Once proof of funds and verification is confirmed, users can begin processing payments.
Moreover, one can use PayPal to accept in-person payments. Unlike Willa, payment transfers through PayPal take time, and the app sets limits for unverified users. This payment app comes with great features such as:
- Easy to use and secure platform
- Supports international money transfers
- Support multiple payment methods
- Widely used finance app
- Multiple e-commerce features
Creating an account on PayPal is free. Also, online purchases and personal transactions are free. But the app charges a fee for specific transactions. However, this payment app is best for those who want to make domestic and international payments for personal or business use.
FreshBooks
FreshBooks is another excellent accounting tool for freelancers, creators, independent contractors, and small businesses. This cloud-based platform allows users to create and send invoices, track payments & expenses, and accept payments. Here are the features that FreshBooks offer:
- Easy to use
- Cool invoicing services
- Great customer service
- Can track payments
- Intuitive mobile app for invoicing and accounting
- Have data import and export tools
- Ideal for project accounting
The tool offers four plans, Lite ($15 per month), Plus ($30 per month), Premium ($55 per month), and Select (custom pricing). FreshBooks is less helpful and fast than other competitors in processing payments and giving a seamless experience to creators and clients. But, ultimately, it's your choice to choose the best option for you. Therefore, it is best to decide after researching and reviewing this financial product.
Final word on Willa
Willa is a cash-advance app that provides a new payment method for creators and freelancers who receive late payments. This financial tool simplifies the process of invoicing & finance, and creators don't have to track payments anymore. It is authentic and can be the best option for self-employed individuals to make superfast payments.
Willa is currently accessible in the United States. Interestingly, you can download it for 100% free, use it, and get paid without delay. With Willa, you can control your cash flow. The platform gives you the secure option to get your payment instantly. And it is the easiest way for brands and agencies to pay creators.
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