Investly has launched a peer-to-peer lending platform targeting UK SMEs.
Investly is an invoice finance platform similar to market leader MarketInvoice.
As part of the UK launch, Investly is offering the 20 first accepted companies the chance to sell an invoice worth up to £5000 discount free.
Investly explains it has simplified the invoice financing process reducing complexity and fees. Once credit checks have cleared, SMEs are able to sell their receivables to investors within two days.
Investly has hired Ruth Chamberlain to act as UK country manager.
Chamberlain said: “Long payment terms are crippling for UK SMEs.
“They are dependent on cash to sustain and grow their business, but as they invest in products and people, they may not get money on work completed a month or even 120 days after issuing their invoice. This is putting many businesses at risk – especially smaller ones and those that depend on payments from one or two key customers.
“Investly brings together investors with growing SMEs in need of vital capital. Our concept, expertise and technology allows businesses to be the best they can be by making the invoice finance process as simple as it has ever been.
“After in-depth market research, we believe that this product is perfect for businesses operating in the IT and media sectors, as well as recruitment and construction.”