Launch of a new P2P invoice financing platform | National Offers News
A new peer-to-peer (P2P) invoice finance platform has launched in the UK following a successful European trial in Estonia and a venture capital investment of €600,000 (£454,000 ) from SpeedInvest.
Investly will allow small and medium enterprises (SMEs) to sell invoices to investors within two days of credit check approval.
Ruth Chamberlain, UK Country Manager for Investly, said: “Long payment terms are crippling UK SMEs.
“They depend on money to maintain and grow their business, but as they invest in products and people, they may not get money on work done a month or even 120 days after their invoice is issued. .
“This puts many businesses at risk, especially smaller ones and those that depend on payments from one or two key customers.”
Investly’s invoice finance product will initially be available to any UK SME that meets the platform’s registration criteria, which includes credit checks and confirmation of their identity.
Additional safeguards are put in place, such as director checks and potential safeguards.
Chamberlain added: “Investly brings investors together with growing SMEs in need of vital capital.
“Our concept, expertise and technology enable businesses to be the best they can be by making the invoice financing process as easy as it has ever been.
“After extensive market research, we believe this product is perfect for companies operating in the IT and media, as well as recruitment and construction industries.”