Findotech provides invoice discounting services, allowing businesses to access early payment on their outstanding invoices. This helps companies improve cash flow and manage working capital more effectively by selling their accounts receivable at a discount.
Funding
Funding not disclosed
Founders
Product
Problem
Many small and medium-sized enterprises (SMEs) face challenges in maintaining sufficient cash flow due to delayed payments on invoices, which can hinder their ability to invest in growth and manage day-to-day operations. Traditional financing options may be difficult to access or come with restrictive terms, leaving SMEs with limited options for unlocking the value of their accounts receivable.
Solution
Findotech provides a digital factoring platform that connects SMEs with investors to facilitate early payment on outstanding invoices. The platform allows SMEs to cede their invoices and receive an advance of 80-90% of the invoice value within 48 hours. Investors bid on these invoices, providing SMEs with competitive rates. Findotech handles the invoice collection process, reducing administrative burden for the SMEs. This factoring service does not depend on the credit history of the SME, but rather on the credit quality of their clients.
Target Audience
Findotech serves two primary customer segments: SMEs seeking to improve their cash flow by accessing early payment on invoices, and investors looking for short-term, high-yield investment opportunities in accounts receivable.
Features
- Online platform for invoice discounting, accessible via computer or mobile device
- Invoice evaluation and base rate proposal
- Auction system for investors to bid on invoices, ensuring competitive rates for SMEs
- Advance payment of 80-90% of invoice value within 48 hours
- Handles invoice collection, reducing administrative tasks for SMEs
- Investors can access a portfolio of invoices with returns between 10% and 25% annualized
- Short-term investment periods tied to invoice due dates (30-180 days)
- Virtual wallet for investors to manage funds and transactions
- Integration with Factrack de Cavali for invoice confirmation