Advanon brings together companies that are in need of liquidity with investors that are looking for new investment possibilities. The platform went live in July 2015 and already achieved several milestones.
Advanon is an online platform where SMEs looking for short-term financing can sell their invoices to financial investors. The platform went live mid-July 2015. “Since the beginning of autumn we can see a significant growth in the number of businesses that are signing up for invoice financing”, told Advanon COO Philip Kornmann startupticker.ch.
43 companies have signed up so far and 57 investors are registered on the platform. Invoices that were uploaded have a total value of CHF 400'000. Especially impressive is the largest invoice financed. It had a value of more than CHF 100’000.
“The typical SME that contact us is a growing company that needs to free up cash to hire additional staff, invest in marketing, or purchase more material for their production. We are happy to help them accessing financing in a customer-friendly and flexible way as compared to the traditional banks”, comments Philip Kornmann.
Advanon is an innovative and new kind of factoring service. Unlike traditional factoring services Advanon allows sellers to sell invoices when and as they need it and to get money fast. In addition is easy to use and transparent. The pricing is clear and does not include any hidden service fees.
Investors on the other hand have previously not had access to invoice investments. Through Advanon they can access investments that are:
- Short-term - as invoices generally have payment terms of 30-180 days
- Securitised - as invoices are sold with recourse, the credit risk stays with the seller.
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