InvoiceInterchange 2017 in review
This year has been one of growth and development here at InvoiceInterchange. Since our participation in the PayPal Startup Incubator, the company has matured and grown to what it is today.
As of December 2017, InvoiceInterchange has now funded over S$31M in invoices with zero defaults to-date. This is testament to our stated objective of providing the highest quality service to all our clients. We are proud to have contributed to Singapore’s economy by supporting the growth of local businesses in times of cash flow crunch by providing them with immediate funds that can be utilised to pay for company expenses or improve their working capital.
Bangkok Bank Innohub Global Fintech Accelerator Programme
Over the last year, we have been participating in various programs to continue to forge strong relationships in the financial ecosystem. Special mention of The Bangkok Innohub, which was a 12 week program designed to mentor the top 8 global Fintech startups from around the world. InvoiceInterchange was selected from a large pool of applicants and we earned the opportunity to work directly with the Senior Vice President and Executive Vice President of Bangkok Bank. As the second largest economy in ASEAN, Thailand is a key market to establish a strong foothold. This program has expanded our reach into Thailand, specifically granted us a network for future expansion by building strong relationships with bankers that will ease our entry into the Thai market. Furthermore, it allowed us to become an alumni in the NEST program enjoying access to startups throughout markets in Asia. Specifically, the Bangkok Innohub accelerator program gave us a means for growth opportunities by being in the same environment with other startups to collaborate.
Partnership with NufinData
More recently, we partnered with NufinData to amplify our reach by incorporating our services into their document automation platform called NEMO. NEMO speeds up the information flow between customers, suppliers and funders by connecting them all in a one cloud platform. On NEMO, we act as a third party financier, providing cash flow solutions to help ease working capital problems through invoice finance and supply chain finance.
Supply Chain Financing
This year we introduced a new product, Supply Chain Financing, where we are gaining market share. Supply chain finance also known as supplier finance or reverse factoring links buyers, suppliers and third party financing institutions in order to lower financing costs and improve business efficiency in a mutually beneficial relationship. This process optimises cash flow for both the buyer and the seller.
2018 outlook and beyond
Going forward, we have laid out several exciting plans that will be announced over the coming months. We are committed to bringing more opportunities to our Investors and deliver smart financing to SMEs. We believe in our capability to satisfy the growing demand for alternative finance in the Southeast Asian market. As we implement these plans, we will also continue to focus on technological innovation to help us serve you more efficiently.
The InvoiceInterchange team would like to take this opportunity to express a big Thank You to each and every one of you for your continued support. We always welcome your feedback and are committed to continually improve. We are confident that by striving for excellence and always putting our customers’ interest first in everything we do, 2018 will be another good year for all.
As we bid goodbye to 2017, we wish you Happy Holidays and a very successful 2018!
Chief Executive Officer
InvoiceInterchange Pte Ltd