VAI and FinCompare intensify cooperation for supplier invoice pre-financing

As part of Volksbank Berlin, VAI offers pre-financing of supplier invoices of up to EUR 150,000. By integrating VAI on the FinCompare platform, inquiries from SMEs are preselected by FinCompare and inquiring companies immediately receive an indication of the conditions. In the future, an automated check and direct approval of purchase financing for SMEs via VAI is conceivable through the cooperation if certain criteria are met. For VAI, the cooperation with FinCompare offers another opportunity to optimise working capital for young and small companies.

The process starts when an SME requests purchase financing on the FinCompare website. The request is pre-checked by FinCompare consultants with the help of external creditworthiness data. The prepared request is submitted on the joint portal of FinCompare and VAI. Then, FinCompare can provide the requesting SME with interest rates. The SME then receives access to the VAI portal in which invoices for financing can be uploaded. VAI can then approve the invoice and the amount will be paid to the supplier by VAI within 24 hours.