Invoice finances fintech changes its name and expands its product range

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Invoice Cycle today became InvoCap to reflect its updated product line.

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In line with an industry trend, Invoice Cycle is expanding beyond its core invoice financing product. The UK-based platform has today been renamed InvoCap, alongside the launch of a longer-term product line.

Its products now include flexible lines of credit, cash invoice financing and ledger loans. The revamped product set aims to provide customers with longer repayment terms and larger loans.

The strategic change recalls the evolution of industry leader MarketInvoice over the past eighteen months, during which it launched open credit lines and business loans. In addition to providing greater choice for customers, longer terms also tend to help platforms attract institutional funding, as investors are able to commit larger amounts over longer periods of time. MarketInvoice again comes to mind as a good example.

With its new online products, InvoCap (active in both Germany and the UK) hopes to reach £100 million in cumulative creation over the next 12 months. The company has loaned out £40m so far.

Dave Cockle, managing director of the platform in the UK, commented: “We are much more than just invoice financing, we recognize that each customer is unique and their needs are different. Understanding this means we understand that a unique approach is needed to ensure we provide the right product to every customer, whether through a business loan, revolving facility or invoice financing – We can help you.

Invoice Cycle was launched in the UK in 2016 with the aim of eliminating cash flow problems for businesses.

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