Xometry, a marketplace for custom manufacturing, has introduced the new Xometry Advance Card.
Using the new card, Xometry’s more than 3,000 manufacturing partners based in the US can receive 30% of the value of the Xometry jobs they accept.
The amount is capped at $7,500 on each job.
The aim is to enable partners to boost their cash flow, offering shops funds to purchase materials, tooling, and other business costs.
The new offering can be used at any place where Visa is accepted. It does not charge fees or interest.
Depending on the work partners take from the Xometry job board, the spending limit is automatically set.
The funds on the card will be returned to partners if not used along with the remaining job payment.
Xometry partners will also receive $100 upon the card’s activation for a limited time.
Commenting on the new offering, Xometry co-founder and CEO Randy Altschuler said: “The Xometry Advance Card makes it easier for our partners to buy what they need to keep their shops growing without worrying about cash flow. Over time, we will also be adding opportunities for discounts and benefits on products relevant to manufacturing partners who are cardholders.”
“At Xometry, we’re all about unleashing the capacity of American manufacturing. We want to do everything we can to help the small- and medium-sized American shops in our partner network succeed.”