Dutch finech Facevalue has introduced an accounts receivable finance solution for European SMEs that challenges traditional factoring.
Facevalue offers flexibility to its clients to determine which receivables they want to sell. The company is using advanced technology to address accounts receivable finance. It is expected that the global transaction value will eclipse pre-pandemic levels and continue its rise and still it only accounts for an approximate 10% adoption, according to the official press release.
The platform uses a combination of optical character recognition (OCR) and artificial intelligence (AI) to convert a PDF invoice to a Peppol compliant structured electronic invoice. New clients can immediately sell their top priority receivables while Facevalue performs a detailed credit assessment whereafter a facility of up to EUR 5 million can be approved for SMEs across the European Economic Area and the UK.
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