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Soldo partners with TRIVER to increase SME cashflow

Tuesday 7 May 2024 09:49 CET | News

UK-based expense management platform Soldo has partnered with cashflow financing provider TRIVER to tackle cashflow challenges that UK SMEs face.

 

Leveraging Open Banking data and AI technology, TRIVER seamlessly funds SMEs. At a time when access to capital is crucial for businesses looking to survive economic instability, it alleviates the cashflow problems caused by unpaid invoices with a simple, flexible, and convenient cashflow financing product. With TRIVER, Soldo’s SMEs customers will be able to access financing equivalent to up to 20% of their annual turnover.

Soldo has partnered with cashflow financing provider TRIVER to tackle cashflow challenges that UK SMEs face.

Augmenting access to capital for SMEs

Soldo has been built because the status quo of managing business spend is broken and restrictive to growth, company officials said. They continue to expand the capabilities of their platform to meet the needs of medium and large enterprises, as well as finding innovative ways to support SMEs. TRIVER mirrors their ambition for this segment and has developed a compelling proposition, making this partnership a good fit.

TRIVER gives customers instant access to capital by advancing their invoices, up to GBP 100,000 for each invoice and for a maximum of 120 days. The onboarding process is digital and hassle-free, customers are charged only one simple fee for what they use.

TRIVER’s team explained that five million small businesses in the UK generate billions of B2B turnover every year. That’s a big amount of money. It’s also a sum, especially in the current climate, the economy cannot afford to lose out on due to poor access to capital. To ensure SME business continuity, short-term financing solutions are vital – which is why they’re happy to partner with Soldo to roll out a new way to access credit to more entrepreneurs across the country.

What does Soldo do?

Soldo works with thousands of companies, from small businesses to multinational corporations, to track and control spending. Headquartered in the UK, with additional offices in Dublin, Milan, and Rome, the company enables customers to spend company money on travel and entertainment, advertising, purchases, software subscriptions, ecommerce, and more. With Soldo, financial leaders and business owners can control every cost with custom budgets and real-time tracking of transactions.

More information about TRIVER

Using AI and Open Banking, TRIVER offers frictionless cash flow financing. It was founded in 2022 by fintech experts to solve the funding gap for small businesses. Having created the first fully automated invoice finance platform, TRIVER turns receivables into cash flow in a click, 24/7. The TRIVER platform also enables embedded finance without complexity, using simple connections via APIs, allowing capital deployment at point of need.


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Keywords: cash flow, spend management, SMEs, Open Banking, artificial intelligence
Categories: Banking & Fintech
Companies: Soldo, TRIVER
Countries: United Kingdom
This article is part of category

Banking & Fintech

Soldo

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TRIVER

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