Invoice Finance Subscription-based Financing for UK's SMEs - Unique Way to Accelerate Growth.
"CEO says innovation in financing is critical to expansion of UKs SaaS firms and its start-up scene."
London, 08 March 2016: Invoice Cycle, the alternative finance company, is offering small and medium-sized enterprises a unique form of rapid finance based on their subscription business models. This innovative offering is particularly targeted to the burgeoning Software as a Service (SaaS) sector and the UK’s start-up scene. Invoice Cycle’s solutions meet an increasing need for alternative, faster and more flexible finance to drive British business growth and maintain UK’s position as one of the world’s leading entrepreneurial hubs. Currently the UK is ranked as the most entrepreneurial country in Europe and 4th in the world (The Global Entrepreneurship and Development Institute rankings, 2015). Invoice Cycle offers companies two main financing opportunities that are faster and more flexible than the high street options. First they offer businesses rapid access to capital when they normally earn income via subscriptions. Invoice Cycle will offer financing against a firm’s subscriptions, so the client gets the money they need quickly, and Invoice Cycle can be confident that payments will be forthcoming. This is an increasingly attractive option for firms offering services, in particular the escalating number of SaaS companies.
60% of Business Finance experienced late payments
It enables them to take full advantage of the opportunities presented by the new and expanding subscription economy. 80% of companies say they see a change in how customers want to access and pay for goods and services, leading to 50% of them changing their pricing models, often to subscriptions (see article How The Subscription Economy is Disrupting The Traditional Business Model, Kimberly A. Whitler, Forbes.com, 17 January 2016, (http://tinyurl.com/zjp44tz). Just think of Netflix and Spotify as the most prominent examples of successful subscription-based businesses.
“This is an incredibly exciting development in the subscription and service economy,” said Dinis Guarda, CEO of Ztudium, which publishes intelligentHQ.com and openbusinesscoucil.org. “Invoice Cycle is a dynamic and innovative player in this market and very well placed to help people like me to finance the rapid growth of my business”.
Invoice Cycle’s second offering consists of a straightforward term loan, of any sum between £5,000 and £50,000. The loans are given online in a simple process that takes about five minutes and, uniquely, loans are given against invoices that clients have already issued to their customers. The powerful technology behind the platform enables Invoice Cycle to make common sense decisions in less than 24 hours, with competitive pricing, starting at 2% per month. “Backing the growth of SMEs is vital to the British economy because, according to Government figures, 99.9% of all British businesses are SMEs and they account for 60% of private sector employment (source: Department for Business, Innovation & Skills, Business Population Estimates for the UK and the Regions 2015, published 14 October 2015: (http://tinyurl.com/plul2bb).
However, one of the main challenges for growing businesses is accessing finance,” said Gideon Shaw, CEO of Invoice Cycle. “In our modern, innovative economy, firms need sources of finance that operate in new ways and finance providers that respond rapidly to their needs. That’s exactly our mission at Invoice Cycle. ” “It’s common for SMEs to wait anything from 30 to 90 days for payment, or for banks to take the best part of a month to confirm a loan. But firms whose resources are small often need money more quickly than that. Invoice Cycle can provide much needed capital much faster,” explained Mr. Shaw.
About Invoice Cycle: Invoice Cycle offers financing to SMEs. The company is a collaboration of professionals with backgrounds in some of the largest finance and technology institutions in the world. Its mission is to make business financing simpler. www.invoicecycle.com
