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E-invoicing, SCF & E-procurement

Tungsten bolsters SMEs financing offering

Monday 28 November 2016 | 02:28 PM CET

Tungsten Network has strengthened its finance offer to thousands of companies in the UK and US with an overhaul of its Early Payment solution for SMEs.

Originally launched in 2015, Tungsten Network Early Payment has been offering funding to many SMEs; with the latest extension to the product, which enables lower rates to be charged, Tungsten hopes to increase the number of businesses it can provide finance for to support their growth.

This refreshed product – which enables SMEs to leverage their e-invoicing service with Tungsten to access competitive funding – will broaden the number of companies to provide finance to, with the aim of helping them build and grow the businesses they own.

As well as Early Payment, Tungsten is broadening its network solutions to include receivables financing and payables financing. More suited to larger businesses in the SME bracket, this will support businesses looking to scale up their operations further.

To support the provision of this service, Tungsten Network Finance has also made a number of key appointments to grow the team. Previously at Citibank, Divya Eapen has taken up the role of Head of Risk and Operations to support Prabhat Vira in the running of Tungsten Network Finance. Meanwhile, Amit Kahana (formerly with Market Invoice) and Carin Ly (formerly with Citibank) join the team as Senior Product Managers.

For more information about Tungsten, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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