Invoice financing platform Capital Springboard rolls out in Singapore

Friday 24 June 2016 00:49 CET | News

Capital Springboard has announced the Singapore launch of its peer-to-peer (P2P) financing platform for accredited investors seeking high returns on short-term invoices.

With offices in Singapore, London,UK and Dublin, Ireland, the firm claims to have facilitated trades worth USD 60 million from its Singapore pilot project.

The company claims investors using the platform can benefit from annualised returns of 11 per cent to 25 per cent, depending on the grade of risk of the invoice, during a 90-day investment window. A higher grade of risk translates to higher returns.

Operating in the invoice financing space, with invoice financing a form of factoring, the Springboard Capital provides a platform for businesses to trade their outstanding invoices or accounts receivable to investors at a discounted price to obtain cash immediately, rather than waiting for their vendor to pay on the due date. Subsequently, invoice trading platforms like Capital Springboard then collect payments on the due date and disburse the proceeds accordingly to investors and SMEs. It permits businesses to convert unpaid invoices into cash up-front, while easing cash flow challenges.

More than that, through this platform, Capital Springboard claims to innovate the way SMEs fund their growth, via providing accessible capital upon three days of the invoice being successfully submitted. SMEs using the platform will incur a one-off origination fee of 2 per cent of the amount advanced to them. To qualify, SMEs must have an invoice minimum of SGD 25,000, be registered in Singapore and in business for at least a year.  According to Springboard Capital, they will also vet these SMEs for creditworthiness to minimise risks.

Accredited Investors can open a Capital Springboard trading account which is held by escrow agent, Vistra Trust (Singapore) Pte. Limited, regulated by the  Monetary Authority of Singapore (MAS). The minimum investment ticket is USD 50,000 and investors can withdraw their undeployed funds at any time, according to the company.

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Keywords: Invoice financing platform, Capital Springboard, Singapore, einvoice
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
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Banking & Fintech

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