Frequently Asked Questions & Answers
· Drop your invoice on the platform
· You receive the cash in your bank account within 24 hours
MatchPlace IF is a peer-to-peer financing service that allows UK SMEs to receive cash advances of up to 90% against trade receivables financed by private investors, institutional investors, banks or corporates. Access to MatchPlace IF is open to interested companies and investors. Invoices can be uploaded manually or automatically. The cash advance is executed without the notification of the debtor (undisclosed assignment).
The current shareholders are Benjamin Gedeon, Christophe Monget and Golden Eagle Ventures.
MatchPlace has developed a fast and easy-to-use peer-to-peer platform for trade receivables accessible for companies and investors. Companies that receive finance on their trade receivables through MatchPlace IF experience transparent and fair pricing and enables them to get access to a broad range of investors.
The key features of MatchPlaceIF are:
1. Speed: A request for invoice finance can be processed and funded in 24 hours.
2. Transparent pricing: MatchPlace publishes fees and rates online.
3. Customer focus: MatchPlace goes above and beyond to ensure that its customers, corporates or investors, are satisfied with its services. It takes every reasonable step to safeguard its customers from financial jeopardy.
Registration to MatchPlace IF is free.
Submission of an invoice is free.
Once an invoice has been accepted, the seller of an invoice pays
· an Invoice Processing Fee of 0.75% to 2.5% of the total invoice amount,
· a Payment Processing Fee of £15,
· a Finance Cost of 0.05% to 0.3% per day of the cash advance amount for the duration of the cash advance.
The investor pays a Service Fee of 20% of the Finance Returns.
The registration process has been designed to follow the regulation on financial services in the UK. The registration process can take from 24 hours up to 3 days.
Companies who wish to submit invoices for financing must provide the relevant documentation to meet the Know-Your-Customer (KYC) regulation in the UK.
Investors who wish to participate to invoice financing must provide the relevant information for KYC and Anti-Money-Laundering (AML) checks in the UK.
There are no requirements for any specific accounts to use MatchPlace IF services. Each corporate and each investor is provided with an ewallet through our service partner to manage their funds accordingly.
Do I have to inform the debtor of my trade receivable about the cash advance? How and when does the debtor know that my trade receivable has been sold?
The platform is hosted on Microsoft Azure and is protected by top-level security mechanisms to prevent intrusion. All content is stored encrypted to increase security once more.
All participants are authenticated by a KYC and AML process provided by an external Service Partner.
Each submitted trade receivable is verified by MatchPlace as part of standard procedures before acceptance on the platform.
Upon payment of the invoice, MatchPlace IF initiates the automatic reimbursement of the cash advance with fees to the pool of investors.
You have three options for submitting requests
1) You can enter invoice data directly on the platform;
2) You upload your invoice data via an Excel template; or
3) You create an automatic interface to your ERP system based on an interface specification defined by MatchPlace.
After approval of the invoices by MatchPlace, the invoice financing process is automatic. You do not have to intervene.
MatchPlace will automatically transfer the cash advance funds once the invoice financing is successful.
At maturity of the invoice, MatchPlace automatically takes care of forwarding the payed amount to the pool of investors.
In principle, the requesters of invoice finance are liable for 100% of the existence and certainty of receivables. However, to limit the effect of such behaviour and reduce the risks for both the requester and the investors, MatchPlace limits the cash advance to a maximum of 80% of the nominal value of the invoice.