We were invited to Birmingham to present to the NACFB at the end of last month. Here is a shortened version for you.
What we do:
Invoice receivables are a new way to package and distribute short term debt. Our auction platform is a revolutionary new tool allowing businesses to raise short term working capital against the value of their invoice receivables by selling them at a discount to the best bidder.
Businesses are having a torrid time accessing all types of funding. We provide quick, easy to access, competitively priced working capital for companies (our Sellers). We also provide institutional, Hedge, Liquidity Fund, professional/sophisticated investors (our Buyers) with a new method for originating higher rate returns by purchasing this new form of short term debt. We offer a new product for companies who do not require whole ledger factoring or invoice discounting.
Who we are:
Platform Black acts in the best interests of our members. Accordingly, the Asset Based Finance Association, being the body that represents the invoice finance industry (ABFA), has been consulted since the earliest stages of our development. In fact the Chairman of ABFA is a great sponsor of innovation, and we are affiliate members.
Experian, the leading credit agency and data provider, have been a fundamental part of our product development so far and are not only providing the live feed to our platform, but have also made us a channel partner with their own SME portal, which will include a link from their site to Platform Black. So as you can see they view us as a route to the SME market for their own growth so we’re betting on each other.
Linkssearch, 3rd party risk assessment – John Bush, has 30 years of Receivables Finance Industry experience. He also founded an invoice discounting business which he sold to SME Invoice Finance.
Noel Ruddy, our Legal advisor, leads the Commercial department at PDT Law, a firm recognised throughout the invoice finance industry. His particular expertise is in receivables financing and asset based lending.
Finally, the National Fraud Authority (NFA) have conducted a case study on Platform Black as an example of best practice, and further they have agreed to link from their site to ours and have given permission to use their logo on our website, lending credibility to our business and operational model.
What we can do for Introducers:
Following registration with Platform Black, and acceptance of our terms and conditions, introducers are given access to a console which allows them to pre-register new sellers (which we then complete directly with the Seller). The console then allows the introducer to view all auctions conducted by that Seller, with a running record of the fees payable to the introducer for the current quarter, and previous quarters. We will give you commission on lifetime trading of all Sellers introduced. You will also receive 20% of every transaction fee, from every auction that your Seller members run.
Click the Register Now button at the top of the page to get started today.
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