Less than six months after securing £679,085 through its equity crowdfunding campaign on Seedrs, London-based peer-to-peer lender and invoice finance provider Investly announced it has opened its platform to help partners such as banks, working capital providers, e-invoicing platforms and retail/wholesale marketplaces serve their business customers the financing they need.
As previously reported, Investly provides an invoice finance platform that allows users to upload invoices and get them paid with the best rates at a faster pace. The lending portal stated it helps European businesses finance their 30-180 day invoices through the Investly marketplace. While sharing details about the online lender’s growth and development, Investly CEO, Siim Maivel, recently revealed:
“This is a new era for banks, so they’re interested in developing strategic partners in every possible business niche to ensure they maintain their place in the new supply chain. Our aim is to become one of these invaluable partners, which would enable us to significantly increase our business volumes whilst providing their SME customers a flexible product within their bank.”
Investly claimed that more than half of the smaller businesses who are using its platform have never used invoice financing because it has not been made available, or it has been with an unsustainable cost. The lender also revealed that partners using the platform will be able to utilize the existing marketplace of funding if they wish to.
“Availability of multiple funding sources can help the partners fund currently unserved clients, reduce their cost of capital and provide a more competitive pricing to their business customers.”
Maivel went on to add:
“Partnering with fintechs has become increasingly attractive to traditional lenders such as banks. Fintechs are delivering automated and easy to use solutions for particular services that were previously offered by the banks, who are now becoming more focused on maximising their core strengths such as quality customer relationships and full service portfolio. Partnering with the best providers in each service category can help the banks reinforce the full portfolio offering. As a result, fintechs such as Investly can focus on continuous improvement of the service providing value for more businesses and partners alike.”
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