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FAQ Invoice Funding - MatchPlace

FAQ Invoice Funding

Frequently Asked Questions & Answers

Have a look at frequently asked questions & answers to understand more.

Invoice Funding process
1. Register and Submit your invoice
· Simply register online, it is free
· Drop your invoice on the platform
2. Invoice compliance check
· We verify the invoice and confirm the financing rates
3. Funding of the invoice
· Our investors provide the funds for the cash advance
· You receive the cash in your bank account within 24 hours
4. Closing the Invoice
· When the invoice is settled, we send you the final balance minus the financing costs

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.

MatchPlace IF is an alternative to typical financing products. It shortens the working capital cycle, reduces collection expenses and credit/payment risks. Several studies have shown that this usually leads to a reduction in financing costs and an increase on the return on assets.

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.

You do not have to inform the debtor about the cash advance. They will however be contacted by MatchPlace to verify the accuracy of the invoice.
Limited and public companies registered at Company House in England and who can demonstrate a business activity of at least 2 years can request cash advances on B2B trade receivables.
All trade receivables towards Limited and public companies registered at Company House in England with a minimum amount of GBP 20,000 and a minimum residual maturity of 15 days from the start of the cash advance.
MatchPlace IF offers UK private investors, institutional investors, banks and UK corporates a cost-effective way to gain access to a profitable market with a diversified risk profile and short capital commitment.
Users data is segregated per user and is not shareable. All data is encrypted for storage and communication within the platform.
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.
Once you have been KYC and AML approved, you can act as both on MatchPlace IF.
MatchPlace Limited (FRN: 767447) is an Appointed Representative (“AR”) of TUSK Capital Management Ltd which is authorised and regulated by the Financial Conduct Authority under FCA Number 409723..
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.
Investors can choose which invoice to finance and for which amount at any time on the platform. They are provided with the relevant details regarding the invoice and the requester.
After the successful completion of the Financing phase, the requester receives the cash advance from the pool of investors. MatchPlace IF acts as an intermediary to ensure the correct transfer of funds.
Upon payment of the invoice, MatchPlace IF initiates the automatic reimbursement of the cash advance with fees to the pool of investors.
If the debtor does not pay at the due date, MatchPlace will work with the requestor for a successful conclusion of the situation.
The invoice financing process is automatic and managed by MatchPlace. You will receive automatic notifications on each event of the process.
The workload for using MatchPlace IF is minimal.
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.

You will be informed by e-mail that your trade receivable has not been financed to the full amount. If you wish, you will be able to accept the partial cash advance amount and only pay a reduced processing fee.
In such case, you can repay the cash advance early at no additional cost.
In addition to the debtors' payment or insolvency risk, the investors also take the risk of the payment behaviour (dilution- and late payment risk) of the debtor. All these risks can be assessed by the investors based on the available payment data on MatchPlace.
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.

Do you have any questions? Contact us now!