Singapore based Capital Springboard yesterday launched a peer-to-peer invoice financing platform for savvy accredited investors seeking high returns on short term invoices.
The invoice financing startup will make purchase of yet-to-be-paid invoices possible for investors. They in turn will receive an ‘attractive return’ when the invoices are paid. The expected returns of 11-25% will depend on the grade of risk of the invoice, during a 90 day investment window. The higher the grade of risk, the higher the returns.
Roger Crook, CEO of Capital Springboard was quoted as saying,
We are thrilled to be launching officially in Singapore. Singapore is a global financial hub and a market with a sizable SME sector that requires access to capital. Capital Springboard’s peer-to-peer investing platform is intuitive and user-friendly. The platform is supported by a strong team with expertise in finance and business. We will provide accredited investors the opportunity to invest in an exciting new asset class, and to earn an attractive return when the invoice is paid.
Accredited Investors can open a Capital Springboard trading account held by escrow agent, Vistra Trust which is regulated by the Monetary Authority of Singapore (MAS). The minimum investment has to be S$50,000 and they can withdraw their undeployed funds at any time.
SMEs registered in Singapore with a minimum invoice of $25,000 and business at least a year old, can participate in the peer-to-peer investing platform. The service will benefit SMEs which are short on cash flows. The enterprises will be vetted by Capital Springboard’s experts for credit worthiness and financial strength. They have to bear only a one-off fee of 2% of the amount advanced to them. Crook said,
We also look forward to providing accessible capital for SMEs in Singapore to fund their growth. Importantly all investors and SMEs have to undergo a rigorous on-boarding and screening process before qualifying to participate with us.
Backed by Centurion Portfolio Managers, a London based FCA regulated investment advisor, the Capital Springboard team comprises a credible team of experts with a strong track record in business and finance. The Singapore pilot that started in July 2015, has already seen over 1300 invoices worth S$80million being traded.