The trading platform offers a series of features tailored specifically to the needs of the waste industry including computer vision quality data, real time auction functionality, automated documentation checks as well as embedded financing and transportation.
“Recycling facilities across Europe have for decades been held back by offline and manual trading processes, which have led to foregone revenue and excessively high admin costs” says Rishi Stocker, CEO of TrueCircle. “We’re thrilled to be launching TrueCircle Trade, which dramatically transforms that material trading process and brings it into the 21st century. Lack of trust in material quality has always stood in the way of new trading relationships. We’re delighted to be solving that problem by putting our TrueCircle AI powered quality data at the heart of transactions’
Features and benefits of TrueCircle Trade include:
- TrueCircle Trade already has 150 verified buyers and sellers on board, with an annual purchasing capacity of 7.9m tonnes and growing.
- Listings provide accurate material quality data verified by TrueCircle’s AI Vision Systems and all relevant compliance documentation.
- Sellers can link TrueCircle AI powered quality data in 1 click to a listing.
- Buyers and Sellers are able to communicate directly with each other on the platform using a compliant integrated chat feature.
- TrueCircle goes the extra mile for all suppliers listing on TrueCircle Trade by creating informative profile pages and high-quality site tour videos. This fully informs buyers before they start working with a new supplier.
- Buyers’ documentation is available to the seller before they accept a bid, saving time on admin and compliance work.
- TrueCircle creates a central audit trail of all of the required documentation related to a transaction (e.g. Annex VII, Duty of Care forms, Weighbridge tickets).
- TrueCircle reduces the risk of bad debt by providing real time credit ratings on all registered buyers whenever they bid.
- TrueCircle also offers embedded financing options on certain transactions, allowing the seller to be paid on 7 day terms whilst allowing the buyer to pay on 60 day terms.
- As of today, the platform is now available to everyone and is free to register. To start listing and bidding or for more information, visit trade.truecircle.ai and create a free account.
- In a closed pre-launch beta programme that has run for the last few weeks, TrueCircle has facilitated >£1.1m of trades between sellers and buyers.