Invoice Trading: Pushing Traditional Finance Frontiers
Chief Sales & Marketing Officer, Platform Black
Platform Black is an online platform through which companies can auction outstanding invoices. Louise explains the process and outlines the factors which make auctions successful.
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Louise Beaumont is Chief Sales & Marketing Director at Platform Black. Platform Black is an online platform through which companies can auction their outstanding invoices and release the capital tied up within. Founded in 2011 the platform has around 200 members and has helped release several millions worth of funding for SMEs.
In this Case Study Louise explains how companies can use Platform Black. Setting up on the site is relatively straight forward and Louise is keen to stress that the platform works with members’ existing finance providers to help them make the most of the product. Outlining the requirements Platform Black has of members, she notes that members must be B2B and have at least six months’ trading record. Platform Black’s partnership with Experian allows it to consider each auction on a case-by-case basis. This allows for greater flexibility, meaning invoices need not come from blue-chip clients.
Date updated: 20 Mar 2013, Date added: 12 Mar 2013