Under the deal, Insight has agreed to invest in Tungsten Early Payment receivables, eligible invoices originated by Tungsten in Europe and North America.
Terms of the agreement with Insight, which is subject to certain regulatory approvals, are not disclosed. The funding to be provided under this multi-year agreement is expected to total several billion pounds.
Insight, owned by Bank of New York Mellon Corp, has agreed to purchase approved-to-pay, investment grade receivables originated through the Tungsten Network e-invoicing platform.
In recent news, Tungsten Corporation has unveiled that it is extending its invoice financing service into the US.
For more information about Tungsten, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
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