HSBC Funding7 Mar 2019 23:04
This could be huge!
https://www.bankingtech.com/2019/03/proactis-gets-20m-funding-from-hsbc-for-sme-action/
Anthony Persse, financial solutions director at Proactis, says: “There is a disconnect in the current payment culture that benefits neither buyers nor suppliers. It stymies investment as well as working capital.”
“We have been exploring technologies that can improve access to working capital by accelerating payments to suppliers,” adds Persse.
The technology also aims to help larger businesses to manage their supply chains, easing the impact on working capital and improving their relationships with suppliers.
New Proactis CEO, Tim Sykes, says it is reviewing the US and European operations to make sure resources are focused on the opportunities in those territories.
Wayne Shadlock, global relationship director at HSBC UK, explains that it began working with Proactis over 15 years ago and its “business is well positioned to drive widespread access to liquidity for SMEs”.
There’s no specific date, but Proactis will launch its “Accelerated Payment Facility” later this year.