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Alternative Market Briefing

Fintech startup uses blockchain to open up credit financing for small businesses

Tuesday, April 24, 2018

Komfie Manalo, Opalesque Asia:

A fintech startup is utilizing the powers of the blockchain to create new possibilities for small businesses.

Blockchain-based credit finance manager INVioU said that the platform's services are globally offered and suitable for any business with electronic invoices. It aims to significantly reduce the financing and credit margins for small businesses that would be otherwise blocked from entering the credit financing market due to their low volume of activity and the high-risk management cost to lenders.

Dror Shapira, CEO of INVioU, commented, "INVioU focuses on enabling SMBs' need for quick cash. Onboarding is conducted through a simple customer registration and a transparent interface to the digital invoice system. The initial onboarding process, including the invoice history recording on the blockchain platform, credit scoring, and financing of the first invoice, takes only one day, and recurring invoice financing is much faster, significantly quicker than is customary in this field."

He explained that the platform records and verifies electronic invoices and other financial documents on an open blockchain network with user permissioned data access capabilities. The use of blockchain technology results in a leap forward for the finance industry by utilizing the blockchain's intrinsic capabilities and immutability, including trusted recording of ownership, digital signag......................

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