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E-invoicing, SCF & E-procurement

Euler Hermes, APiO launch working capital solution

Monday 15 July 2019 | 01:32 PM CET

Trade credit insurance company Euler Hermes has partnered with US-based fintech APiO to launch invoice-based, working capital solution called APiO EarlyPay.

The working capital solution called APiO EarlyPay for small- to medium-sized businesses (SMBs). APiO EarlyPay enables SMBs to address cash flow challenges in an entirely new way. By directly integrating with leading accounting systems, SMBs can register and get immediate funding on eligible invoices in just a few minutes. APiO EarlyPay leverages the power of big data, AI and machine learning to better understand the risk and creditworthiness of a SMB and its customers. This new EarlyPay solution allows APiO to discover, score, insure and fund invoices in less than a minute. Eligible invoices are insured through APiO’s partnership with Euler Hermes.

Despite the excess capital available on the sidelines, access to working capital remains the number one business challenge for SMBs. The impact of this lack of business credit is dramatic. It creates a challenging environment for SMBs which spend, on average, 33 hours just to apply for a loan. In addition, approval rates nationally average 23%. Considering 85% of the USD 30 tln in B2B commerce is conducted on terms (with delayed payments from customers), ApiO.EarlyPay solves a massive cash flow problem with a simple and easy to implement solution for SMBs, the company says.

More: Link
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