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Industry Statistics: Transforming Payment Dynamics:

Eliminating Payment Delays:

  • 16% of freelancers wait two or more months to receive payment upon project completion (source: Independent Economy Council). Selfient ensures this is a thing of the past, as payments are expedited through our platform.
  • 54% of US Freelancers find it takes too long to receive payment (source: Bill.com). Selfient guarantees that payment terms are met promptly, reducing wait times.
  • 45% of US Freelancers report that their clients fail to pay on time (source: Bill.com). Selfient removes the need for freelancers to chase payments by ensuring timely and secure transactions.

Resolving Unpaid Invoices:

  • 72% of freelancers have invoices that remain unpaid by their clients (source: Independent Economy Council). Selfient addresses this issue by placing payments in escrow, awaiting the completion of contract terms, ensuring freelancers are compensated.

Ending Unpaid Balances:

  • Many independent workers have outstanding invoices of completed work worth $50K US or more (source: Independent Economy Council). Selfient prevents this scenario by initiating payment escrow at the project's outset.

Reducing Transaction Costs:

  • Prominent freelance platforms charge 10-20% of the project cost upon completion, along with a 3-5.5% client processing fee (source). Selfient addresses this issue by implementing minimal gas fees and a transaction fee of 5%, solely applicable to the hirer or purchaser. Notably, the talent/seller incurs no fees, and all platform fees are reinvested into advancing subsequent project phases.