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 finance platform founded in Singapore. Launched in 2015, they specialize in making it simpler and transparent for businesses to get the finance they need. [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 e.g. 30, 60, 90 days) to a network of investors on the platform, thus allows them to get their cash upfront. Applying is simple and online and the seller usually receives funds within 24 hours of posting an invoice. [2]
History
InvoiceInterchange was founded by Brian Teng and Nalinee Chinowuthichai in 2015 (CEO and COO respectively).
As a qualified CPA accountant, Brian first worked at Ernst & Young and Deloitte before moving to the UK, where he primarily worked in investment banking and financial services. [3]
Nalinee is a qualified software engineer, with a Master in Operations Management from the University of Melbourne. With over 10 years of experience in the banking industry in Australia and UK, she worked 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 work experiences, Nalinee and Brian came to understand the financial constraints business owners face due to a lack of access to funding and how technology can be used to simplify the world of finance. 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 in Singapore[8] InvoiceInterchange was also selected as one of the top 40 fintechs for the Monetary Authority of Singapore (MAS) Fintech Awards 2016 as well. [9] They were also awarded Silver for Best Innovative Start-up (Early Stage) at the Singapore infocomm Technology Federation (SiTF) Awards 2016. [10] In 2017, InvoiceInterchange was chosen as part of eight top international fintech companies to participate in the Bangkok Bank Innohub Accelerator Programme. [11]
Partnership
InvoiceInterchange is in partnership with AccountsServe and HR Easily since 2016 and 2017 respectively. They also secured a partnership with Nufin Data in October 2017. With this collaboration, InvoiceInterchange provides invoice financing services for users on the Nufin Data platform named NEMO. [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.