The startup offers an invoice management platform that integrates with existing systems to streamline the trade credit cycle. Its technology provides real-time visibility into credit status, aging, and risk profiles through a dynamic rating algorithm, facilitating customer risk analysis and automating the collection process.
Funding
$270K 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
Many businesses, especially smaller ones, struggle with efficiently managing their trade credit cycle, leading to difficulties in accessing credit and increased financial burdens. Traditional methods lack transparency and real-time insights into customer risk, credit quality, and collection processes. This can result in delayed payments, increased costs, and limited access to institutional investors.
Solution
MyCreditService offers a comprehensive invoice management platform designed to streamline the entire trade credit cycle, from initial risk analysis to final credit collection. The platform integrates with existing enterprise resource planning (ERP) systems to provide real-time visibility into credit status, aging, and risk profiles. Using a proprietary algorithm, MyCreditService delivers an up-to-date assessment of credit quality and market value, facilitating invoice trading on its marketplace. The platform also automates credit collection processes, improving collection performance and providing investors with assurance of diligent management of potential insolvencies.
Target Audience
The primary target audience includes small and medium-sized enterprises (SMEs) seeking improved access to credit and more efficient management of their trade credit, as well as institutional investors looking for short-term, revolving assets with decorrelated risks.
Features
- Real-time risk analysis using company data, commercial information, and credit scoring
- Dynamic dashboard organized by risk rating and credit aging for continuous monitoring
- Innovative rating algorithm providing up-to-date assessment of credit quality and market value
- Marketplace for invoice trading with detailed investment memorandum and portfolio grading
- Automated credit collection workflow with customizable policies for individual or groups of clients
- Integration with a European credit agency for independent portfolio evaluation
- Digital management of financial processes for real-time monitoring of collection times and cash flow impact