- Ireland based Invoice Trading platform
- Also available to UK
- Minimum annual revenue (actual or forecast) £500k
- Minimum invoice (bundle) £20,000
- Institutional investors and ‘High Net Worth’ individuals
- Open to global investors
InvoiceFair, founded in 2014, is an online marketplace where businesses in the UK and Ireland can quickly generate funds by selling single invoices of their selection. This online marketplace platform provides speed and connectivity and solves the needs of both the company and investors. The company can ensure access to the finance they need to grow…
The team of InvoiceFair is an experienced one, and it consists of industry experts that when combined, they have 100 years of experience in lending, treasury, investments, trade finance, investment and entrepreneurship. InvoiceFair believes that all companies should be utilising invoice trading as part of a strategy to widen their funding base and lessen their dependency on traditional banking relationships. InvoiceFair boasts multiple potential buyers ensuring significant buyer demand for invoices meaning highly competitive funding rates.
The process is fast, simple, transparent and efficient.
Seller members will usually have
- at least twelve months trading history
- annual revenues of at least €1.0m
In order to apply to become a member of InvoiceFair a business must be an incorporated entity trading for at least twelve months with annual revenues (actual or forecast) of at least €500k. You must be selling goods or services to at least one substantial customer (with turnover generally greater than €5m) or a public services organisation. The customer must have an acceptable below average risk credit rating.
The minimum invoice that can be sold in the marketplace is €20,000 and it is possible to bundle a number of smaller invoices to meet this minimum. Invoices must be due for settlement in 90 days or less. There is no limit to maximum invoice size.
All members must also pass financial and anti-fraud checks.
After the initial registration and due diligence by the platform, the seller has to follow these simple steps in order to sell their invoices on the platform:
- They have to upload their invoice for approval, set the percentage of the invoice amount they wish to sell (up to a maximum of 90%) and choose the minimum price that they want for this invoice.
- The auction takes place. When a Seller posts an invoice for sale in the marketplace they control the minimum price at which point they will sell the invoice by fixing a Reserve Price. The discount at which the invoice is sold is determined by the buyers in the market and is driven down by the auction process resulting in the best possible deal for the Seller.
- The buyer transfers the funds to the business via the InvoiceFair Segregated Client Account.
- When the invoice is paid by the debtor, the funds are distributed to the buyer and the unsold balance to the seller.
There is an initial Seller registration fee of €399 plus VAT and a once off verification fee of €89 per Debtor submitted. An annual Seller registration fee of €249 plus VAT applies thereafter. Invoicefair has a fixed fee structure when you sell an invoice. Sellers pay a fee equivalent to 1% of the invoice amount to trade an invoice on the marketplace.