Warwick University launches spinout Funding Invoice to cut down the wait on invoices.
Warwick University is launching a new company which is aiming to help companies struggling with cashflow during the wait for an invoice to clear.
Funding Invoice will pair clients with a network of investors who can buy out invoices and provide up to 90% of their total value immediately. Once the invoice has been paid, clients receive the remainder and pay a small fee to investors. The company makes money itself in turn through charging a commission to the investor.
Aamar Aslam, founder of Funding Invoice, said: “While I was studying for my degree I set up a chauffeured car service to take VIP clients from large companies to and from the airport. I realised that many chauffeurs were doing business with these companies, but often not getting paid for 60 days, which was unsustainable for them. Funding Invoice is my response to that problem. Our system is really simple to use and our clients only pay a fee to the investors, not to Funding Invoice, so that keeps costs lower for them.”
