Invoice financing platform Investly has surpassed its initial crowdfunding goal of £500,002.
So far, the company has picked up £512,680 at the pre-money valuation of £6.6m through its crowd sale campaign on SEEDRS. Through this sale, the company has offered a total of 7.16 per cent of its equity to its investor-base of just under 400.
FinTech Global reported in January the company had moved past the halfway mark for its campaign, having secured £296,574 from 116 backers.
The company helps European businesses to finance their 30 to 180-day invoices through an online investor marketplace. The platform works by a seller delivering goods to a buyer, whom in-turn loads the invoice to the Investly marketplace for investors to purchase and pay-off. The debtor then pays back the investor within an allotted time, giving back the initial cost and interest.
The platform, which accepts pounds and euros, enables businesses to take on more customers, speed up productions and avoid cash flow gaps. Investly has offices in the UK and Estonia, and has supported companies across the manufacturing, wholesale, construction, logistics, and business services industries.
Last year, the company formed a partnership with e-invoicing operator Telema, in order to provide e-invoicing solutions to Estonia-based companies.
Earlier in the year, C2FO, which offers companies the ability to pay suppliers back earlier to earn discounts, closed a $100m funding round. Allianz X and Mubadala Investment Company led the investment to support the international growth of the product.
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