Crowdz launches private pilot of its invoice financing marketplace

Wednesday 29 January 2020 13:06 CET | News

Blockchain company Crowdz has launched a private pilot of its invoice financing marketplace, the InvoiceXchange.

According to the company, the platform would focus on SMEs who can auction off unpaid invoices to raise finance.

Using blockchain technology, the Crowdz InvoiceXchange aims to provide more liquidity for SMEs. It plans to enable access to financing without completing complicated paperwork. Additionally, the platform works as a marketplace for the invoices, and the company can select offers from banks and financers based on the rates. 

Crowdz was part of the accelerator programs of Techstars and 500 Startups. The company has seven pending patents, and 240 companies are currently using a prototype of the Crowdz platform. Meanwhile, the startup and 20 others were selected by Oracle to work on its Chainlink blockchain project. 

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Keywords: Crowdz, invoice financing, marketplace, fintech, blockchain
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech