Finyoz, the lendtech platform for short-term invoice financing, and Currencycloud, experts simplifying business a multicurrency world, have announced a partnership to deliver ‘21st century’ supply chain financing for companies and investors.
Finyoz matches companies that need short-term invoice financing options with private and corporate treasury investors. The lendtech has developed an automated online platform where companies upload invoices, display financing fees and allows easy communication with a company’s debtor. Investors can then allocate funds between 14 to 90 days and receive interest payments over the period.
Currencycloud enables Finyoz investors to collect funds in the preferred currency of the investor, and then convert it to the preferred currency of the borrower. The multi-currency experts will also enable Finyoz investors to hold cash in a digital wallet and deploy them across various funds.
Finyoz’s corporate treasury clients will also be able to tap into Currencycloud’s global ecosystem, improving payment cycles and international foreign currency transfers.
Thorsten de Jong, CEO of Finyoz Deutschland GmBH, said: “Currencycloud has been a dream partner on this deal. They combine state-of-the-art technology with robust security credentials. They’ve been professional and dedicated throughout.
“Most importantly, they realised there was no easy blueprint for this business model – we’re doing something genuinely innovative, and that requires building things from scratch”.
Piers Marais, Head of Product of Currencycloud, said: “Supply chain financing is an area that’s ripe for disruption, and Finyoz is one of the most exciting teams in the business. The team has an excellent vision and fully understands the needs of their two most important stakeholders – investors and businesses in need of finance.
“We’re so pleased to be on this growth journey with them and look forward to continuing to deliver new and innovative products and services to their clients”.
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Contact
Contact Matt Rowntree, Head of Communications Visa Cross-Border Solutions, mrowntre@visa.com
About Currencycloud
Banks, Fintechs and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution.
Currencycloud gives businesses the capability to move money across borders, and transact globally in multiple currencies, fast. Experts at what they do, their technology can make it easy for clients to embrace digital wallets, and to embed finance into the core of their business -.
Since 2012, Currencycloud has processed more than $200bn to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Integrated Finance, GPS and Mambu to deliver simple, clear cross-border infrastructure solutions for clients.
About Finyoz
Finyoz brings companies and investors together. On the one hand, we achieve immediate liquidity for your company. On the other hand, significantly higher interest rates for investors than with comparable forms of investment.
Finyoz offers instant liquidity for companies, instead of waiting up to three months for payment for goods and services delivered. Finyoz is a tool that is accessible to companies of all sizes, opening up unprecedented opportunities for smaller players in the economy.
Finyoz offers every single person in our diverse society equal opportunities in the investment sector and democratizes investments by making them safe and as easy to understand as savings accounts used to be – enhanced with today’s technical possibilities.
Secure liquidity for companies and returns for investors. Think finance, be finance.
