Launch of a new bill financing platform in Australia

Alternative loans

Skippr, an Australian invoice finance platform, was launched with the aim of helping small businesses take control of their cash flow.

Skippr hopes Australian entrepreneurs using its platform will better understand their cash flow and be able to use Skippr’s cash flow management tool to get their bills paid in advance and continue to manage their operations.

The platform functions as an invoice factoring platform. Business owners provide Skippr with information about their businesses and invoices, seamlessly connecting their accounting software to the platform. Based on the invoice rating and payment terms, companies select the invoices they wish to finance. Once the invoices are approved, they choose to sell them when they need additional cash.

In addition to traditional invoice factoring services, the new start-up also offers a tool that helps companies forecast their cash flow and liquidity needs. This tool is especially useful for cash flow forecasting, live cash tracking and notifications, scenario testing, and predictive modeling.

The company was founded by CEO, Patrick Crivelli, a financial expert with 10 years of experience in fixed income and equity asset management. Prior to becoming an entrepreneur, Patrick worked as a buy-side analyst and portfolio manager in Australia, Hong Kong and the UK. Over the past few years he has developed an interest in disruptive business models and has been involved in a number of tech start-ups.

Crivelli commented:

“SMEs are the backbone of our economy, but nearly half will fail due to poor cash flow. Allowing SMEs to take control of their finances means more competition, innovation, productivity and growth for Australian businesses.

“Skippr’s platform helps SMEs not only access finance, but also understand how to better manage it. Our technology provides more transparency and, therefore, more efficiency to all stakeholders involved in the cash cycle. The result is better informed business operators and stronger customer relationships. It also creates more opportunities for companies to bid bigger deals, buy more inventory, or negotiate better terms with suppliers.

Botanica Life, an organic cold-pressed juice company, is one of the first companies to benefit from Skippr’s services. Nadia Watson, co-founder of Botanica, commented on the company:

“By working with Skippr, I now have additional cash leverage which allows me to obtain discounts from suppliers and maintain longer terms with customers. While this strengthens our relationships with our suppliers and customers , it also allows us to take larger orders from larger companies that usually take longer to pay.”

Although the Australian invoice finance market is at the very beginning of its journey, the number of platforms below it is rapidly exploding. A few months ago, AltFi shed light on the main players – Waddle, Marketlend, Timelio, FundX and InvoiceX – highlighting their key features. We also wrote about The Invoice Market (tim), an invoice discounting company that recently announced several updates, including a new brand, new website, and a major upgrade to its client and lessor platform. funds online. Timelio recently received the “Game Changer of the Year Award” sponsored by Visa and the “Overall Award for Outstanding Excellence” sponsored by Optus at the OPTUS My Business Awards in Sydney.

Interestingly, in the UK, where single invoice financing has been around for 5 years, there are still only two big players – (MarketInvoice and Platform Black), with the recent addition of a third minor, called Funding Invoice. Volumes, in particular outstanding principal, remain low relative to the overall market.

The high number of recent platform launches in the Australian invoice finance space would seem to indicate that a gap in the market has been identified. Is space now overcrowded? Can all these platforms capitalize on this gap? Will some fall by the wayside? Are there more rig launches in the pipe? Watch this place.

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