Last week, blockchain firm Crowdz launched a private pilot of its invoice financing marketplace, the InvoiceXchange. The firm said the platform would focus on SMEs who can auction off unpaid invoices to raise finance.
In 2019, Crowdz raised $5.5 million in Series A led by Barclays Bank and BOLD Capital Partners. Seed accelerator Techstars also participated in the funding round. Now, the company has opened up registrations for the pilot of its invoice financing platform.
Using blockchain technology, the Crowdz InvoiceXchange aims to provide more liquidity for SMEs. It plans to enable access to financing without completing complicated paperwork. Additionally, the platform works as a marketplace for the invoices, and the company can select offers from banks and financers based on the rates.
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