Tungsten Network reaches GBP 300 mln in supply chain finance since 2017

Thursday 28 June 2018 10:50 CET | News

Digital automation platform Tungsten Network has funded up to GBP 300 million of invoices, enabling UK and US companies to manage working capital.

Tungsten Network’s trade finance activities were relaunched at the start of 2017 with a rebuilt technology infrastructure and a repositioned operational model. Since relaunching, it has grown its user base, funding partnerships and range of products.

Tungsten Network Finance offers four trade finance solutions meant to meet different market needs: invoice discounting through the Tungsten Network Early Payment facility in its Portal; flexible lines of credit; receivables financing and supply chain finance. Leveraging the connectivity that comes from joining Tungsten Network, both small and medium size enterprises and large customers are matching working capital needs with a flexible user experience, removing the friction that influences cash flow.

Tungsten Network Finance has recently expanded its geographical reach beyond the United Kingdom and the United States, to include Canada, Ireland and the Netherlands, with funds available in GBP, USD and EUR. This geographical expansion will continue over the course of 2018, with work already underway to make the product available in more countries in Europe and the Americas.

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Keywords: Tungsten Network, UK, US, e-invoicing, supply chain finance, working capital, Tungsten Network Early Payment, receivables financing, cash flow
Countries: World