User:Fierystar/InvoiceInterchange
 | |
| Company type | Private Limited |
|---|---|
| Industry | Finance |
| Founded | 2015 |
| Founder | Brian Teng, Nalinee Chinowuthichai |
| Headquarters | Singapore |
Area served | Singapore |
| Services | Invoice Financing |
| Website | invoiceinterchange.com |
InvoiceInterchange is an online invoice financing platform founded in Singapore. Launched in 2015, they specialize in raising working capital for Small Medium Enterprises (SMEs) via auction based invoice discounting. [1]
Business Model
InvoiceInterchange is an online invoice finance platform providing selective invoice discounting or whole turn over invoice discounting services to SMEs. SMEs can sell their outstanding invoices (due 30, 60, 90 days) to a network of investors on the platform, which allows them to get their cash upfront. An application is approved within 24 hours and the seller usually receives the money within 24 hours of posting an invoice. [2]
History
InvoiceInterchange was founded by Nalinee Chinowuthichai and Brian Teng in 2015 (CEO and COO respectively).
Brian is born in Malaysia. As a qualified accountant, he first worked at Ernst & Young and Deloitte before moving to the UK, where he primarily worked in the financial services department. [3]
Born in Thailand, Nalinee is a qualified software engineer, with a master in Operations Management from University of Melbourne. With over 10 years of experience in the banking industry in Australia and UK, she specialized in investment banking, while working on various areas such as bank system integration, improving operational efficiency and implementing regulatory requirements. [4]
Both met in London while they were working in HSBC, where they conceived the idea of InvoiceInterchange. [5] In 2015, they moved to Singapore where they founded the company.
Based on their different past experiences, Nalinee and Brian came to understand the financial constraints business owners face due to a lack of access to funding. This is one of the reasons that spurred them to start InvoiceInterchange in 2015. [6]
Recognition
InvoiceInterchange was chosen among 10 other startups to be part of the 2015 DBS HotSpot Pre-Accelerator Program. [7] In 2016, they were among the top 3 selected fintech startups to be part of Paypal Incubator Programme. [8] InvoiceInterchange was also selected as part of top 40 fintechs for the Fintech Awards 2016 as well. [9] They also awarded Silver award for Best Innovative Start-up (Early Stage) for the SiTF Awards 2016. [10] In 2017, InvoiceInterchange was chosen as part of the top eight International Fintech to participate in Bangkok Bank Innohub Accelerator Programme. [11]
Partnership
InvoiceInterchange acquired a referral partnership with AccountsServe in 2016 and HR Easily in 2017. They also secured a partnership with Nufin Data. Their product titled New Efficiencies, More Options (NEMO), offers a cloud-based supply chain finance solution intended for the medium to large companies. With this collaboration, InvoiceInterchange provides invoice financing services for users on the NEMO platform. [12]
References
- ^ "Interview with InvoiceInterchange - Let's Crowd Smarter". Let's Crowd Smarter. 2016-04-01. Retrieved 2017-11-21.
- ^ "InvoiceInterchange Invoice Trading Singapore - FintechNewsSG". Fintech Singapore. 2015-09-17. Retrieved 2017-11-21.
- ^ "Fintechnopreneur.com". fintechnopreneur.com. Retrieved 2017-11-21.
- ^ "Helping SMEs Fund Business Growth: Q&A with Nalinee Chinowuthichai Co-Founder of InvoiceInterchange | LadyBoss". LadyBoss | Women Entrepreneurs | Women Leaders in Asia. 2017-02-01. Retrieved 2017-11-21.
- ^ "InvoiceInterchange draws investors with transparency, real-time bidding". The Edge Markets. 2016-04-18. Retrieved 2017-11-21.
- ^ "InvoiceInterchange draws investors with transparency, real-time bidding". The Edge Markets. 2016-04-18. Retrieved 2017-11-21.
- ^ "DBS HotSpot Pre-accelerator". www.dbs.com. Retrieved 2017-11-21.
- ^ "PayPal Singapore unveils the 3 winning startups for PayPal Incubator". e27. Retrieved 2017-11-21.
- ^ "FinTech Awards Finalists | Singapore FinTech Festival". Singapore FinTech Festival. Retrieved 2017-11-21.
- ^ Inc., Advanced Solutions International,. "SiTF Awards 2016". theportal.sg. Retrieved 2017-11-21.
{{cite web}}:|last=has generic name (help)CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link) - ^ "Bangkok Bank InnoHub | Home". Bangkok Bank InnoHub | Home. Retrieved 2017-11-21.
- ^ "NEMO Launch and Signing Ceremony - Nufin Data: Supply Chain Financing Platform". Nufin Data: Supply Chain Financing Platform. Retrieved 2017-11-21.