This startup provides financial services that enable SMEs and freelancers to access funding through invoice advances and discounted promissory notes, utilizing a technology-driven, client-focused process. By streamlining invoice advance requests with minimal paperwork, the company reduces the time to secure financing while mitigating the risk of client non-payment.
Funding
$4.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) and freelancers often face challenges in accessing timely funding due to lengthy approval processes and stringent requirements from traditional financial institutions. This can lead to cash flow bottlenecks, hindering their ability to cover immediate expenses or invest in growth opportunities.
Solution
Borrox provides an online platform that enables SMEs and freelancers to obtain financing through invoice advances and promissory note discounts, offering a streamlined and efficient alternative to traditional banking. The platform facilitates quick access to funds by expediting the invoice advance request process with minimal paperwork and online management. Borrox mitigates the risk of client non-payment and offers financing solutions without increasing their CIRBE (Central Information Registry of Risks), providing flexibility through both specific and general assignments.
Target Audience
The primary target audience includes SMEs, the self-employed, and larger enterprises seeking immediate liquidity and flexible financing options to manage their working capital.
Features
- Online platform for managing and requesting invoice advances and promissory note discounts
- Funding available within 24 hours of request approval
- No requirement for guarantees, collateral, or study commissions
- Credit solutions do not increase a company's CIRBE
- Transparent pricing with no hidden fees
- Electronic identification using advanced technology
- Electronic contract signing with high security standards
- Dedicated agent support throughout the financing process