This is the second in a series of customer profiles aimed at highlighting the amazing implementations of the Balanced API in the wild.
Seattle-based GroupTalent is the marketplace for high-end software projects. It was founded in 2011 by a group of product/design/developer entrepreneurs with experience at companies, large and small, like Microsoft, Whrrl, and YC-backed Team Apart. What sets GroupTalent apart from other talent marketplaces like Elance or oDesk is GroupTalent’s focus on quality. From their own Crunchbase profile: >Our marketplace attracts and vets only the highest paid developers and designers and only the best paying projects.
The team at GroupTalent believes this focus on the high-end market selects for the most substantial projects and the best designer/developer talent.
Why GroupTalent switched from Stripe to Balanced
Wes Hather, GroupTalent co-founder and CPO, wrote an amazing blog post about GroupTalent’s payment vendor selection process. I won’t repeat the entire post here, but will share what Wes saw as the benefits of Balanced over Stripe:
- Built-in Escrow
- Next day ACH Credit
- Two-day API Integration
- Ability to add seller merchants directly within your site
- Invoices are separated from transactions
Read the full story here.
One interesting bit of the story Wes didn’t share is that GroupTalent originally planned to use Stripe for processing and Balanced just for payouts, but during the integration process realized that set-up would take over a week to move the money from Stripe to their developers’ bank accounts (via Balanced) – getting funds from Stripe alone is a 7-day process. So they decided to use Balanced for processing and payouts, which gave them the advantage of next-day payouts, a huge win for their developers.
If you’d like to be featured in one of Balanced’s customer profiles please email support at balancedpayments.com.