Two fintech firms are collaborating to help small businesses identify a cashflow crisis and deliver any funding required.
CaFE, a cashflow monitoring application and FloFunder from PeerPay, a platform that matches firms needing funds with businesses and individuals willing to invest are the firms involved in the partnership.
This comes as statistics from Companies House revealed more than 275,000 businesses were liquidated in the last 12 months, with long-term unpaid debts affecting cashflow.
David Ireson-Hughes, founder of FloFunder, said: “Cashflow monitoring is a useful application but is even more useful if it has a solution attached.
“By joining forces, SME’s and their advisors can now not only predict a problem in advance, but also find the funding required to prevent a crisis from becoming something more serious.”
Makoto Fukuhara, chief executive at café, added: “Keeping on top of cash flow is one of the biggest challenges for small businesses.
“CaFE solves that problem technologically and, when applied with FloFunder, allows the advisor to proactively suggest a solution.”
“Now, thousands of small businesses could now be saved from the withering effects of an unforeseen cash crisis.”