5 start-ups that want to provide a solution to the financing of SMEs
Beyond difficult access to mechanisms to finance their projects, SMEs face another major problem, that of managing their working capital requirement (WCR) and their cash flow. Starting from the observation that “SMEs are in fact the bankers of their clients”, the founders ofUrica, European finance specialists, wanted to find a solution to this problem of payment delays which most SMEs face.
The platform works like a factoring company, since SMEs using its services can be paid on all of their customer invoices once they have been approved by their customers. Likewise, SMEs can negotiate their terms of payment with their suppliers, and access financing solutions adapted to export via the platform. The company, based in Scotland, counts companies like Norton among its customers.
> Angle: factoring in collaborative mode