Member Article

SMEs using Netflix-style subscription services to be offered new form of rapid finance

Invoice Cycle, a new alternative finance company, is to offer UK SMEs and startups a new form of rapid financing based on their subscription business models.

Focusing primarily on the UK’s Software as a Service (SaaS) sector and startup scene, the firm, which is based in London, provides payment and rapid financing based on subscription intake or invoices.

The finance company also offers more traditional loans of between £5,000 and £50,000 through its website, based on invoices that have already been supplied to customers.

It hopes to give UK SMEs more flexible finance options and aims to take advantage of the new and expanding subscription economy, of which SaaS businesses make up a large part.

Gideon Shaw, Chief Executive Officer of Invoice Cycle, said: “Backing the growth of SMEs is vital to the British economy because, according to Government figures, 99.9% of all British businesses are SMEs and they account for 60% of private sector employment. However, one of the main challenges for growing businesses is accessing finance.

“In our modern, innovative economy, firms need sources of finance that operate in new ways and finance providers that respond rapidly to their needs. That’s exactly our mission at Invoice Cycle. “

“It’s common for SMEs to wait anything from 30 to 90 days for payment, or for banks to take the best part of a month to confirm a loan. But firms whose resources are small often need money more quickly than that. Invoice Cycle can provide much needed capital much faster.”