About Crossflow Payments
Crossflow Payments is a financial technology company that operates in the working capital finance sector. The company provides a platform that connects businesses and their suppliers to funders, offering solutions for working capital optimization, early invoice payments, and supply chain finance. Its services primarily cater to the corporate sector, helping businesses improve their cash flow and treasury operations. It was founded in 2013 and is based in London, England.
Crossflow Payments's Product Videos
Crossflow Payments's Products & Differentiators
The Working Capital Marketplace
Our risk prudent, fully automated and highly secure transactional system allows excess working capital to be channelled from funders and financial institutions through a highly resilient and fraud adverse framework that is aligned to international regulations. Our solution delivers increased working capital positions for both corporates and their suppliers.
Expert Collections containing Crossflow Payments
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Crossflow Payments is included in 2 Expert Collections, including SMB Fintech.
Excludes US-based companies
Latest Crossflow Payments News
May 8, 2017
By Erin Hobey The growth prospects of SMEs are being potentially stalled due to late payments, according to new research of over 1,000 SMEs commissioned by Crossflow Payments , the Fintech platform delivering supply chain finance solutions. “Brexit is increasing the issue of late payments and reducing investment by SMEs at a time when the UK faces economic uncertainty. Delays in receiving payment promptly from customers is acting as handbrake on SMEs, preventing them from making key investment decisions for the future, and ultimately stunting growth. In 2017, it should no longer be the case that businesses face such hurdles,”predicted Crossflow Payments CEO Tony Duggan . “Squaring the circle of working capital needs of corporates, and their suppliers, will be an increasingly important lever as business works through Brexit. The business community must work together in order to address this issue and explore new, innovative approaches, such as the capacity of Fintech, to help solve this issue, creating a win-win for business and government.” Keypoints from the research: £266 billion is held up as 15% of SME annual turnover is subject to late payment Over half (55%) of SMEs who receive payment late for invoices admit payment is regularly late by ten days or more, as a quarter (23%) of SMEs cite late payment problem 3.4 million jobs could be created by solving the late payment problem, as two in three (63%) SMEs would hire up to five new members of staff if their working capital improved Businesses experiencing Brexit payment crunch, as one in ten (10%) SMEs have also witnessed worsening in payment terms since 2016 EU Referendum In evidence of the potential impact Brexit could have on late payment problems, the research results evinced that one in ten (10%) SMEs say they have experienced a worsening in payment terms since the EU Referendum in June 2016. This comes as one in three (31%) expressed concern at the potential impact of Brexit negotiations on their business over the next 12 months, with a further one in five (20%) worried about currency fluctuations. Other results in the research revealed that an average of 15% of SME turnover was subject to late payment in 2016 – equivalent to an estimated £266 billion based on SMEs annual turnover in the UK as a whole. Highlighting how widespread late payments are, the research indicates that a quarter (23%) of SMEs usually receive payment for invoices late, with over half of those that do (55%), indicating this stretches on average to ten days or more beyond their payment terms. At the same time, the findings convey the economic opportunity at stake if SMEs are able to boost their working capital by receiving payment for invoices quicker, with tangible business benefits identified by businesses. Furthermore, over one in five (22%) businesses said they would increase marketing and sales budgets, while 17% said they would hire more staff, and another 17% said they would increase the wages of existing staff. Of those who indicated they would hire more staff, two in three (63%) said they would hire up to five additional members of staff, the equivalent to the creation of 3.4 million additional jobs in the UK. The findings also come against the backdrop of the introduction of new government obligations requiring large businesses to publicly report on their payment practice to suppliers, according to Crossflow Payments. Although this information starts to quantify the problem at an individual corporate level, including whether they use supply chain finance solutions, the data serves as a reminder of the need for further progress to be made in ensuring SMEs are able to receive prompt payment from customers. You may also like...
Crossflow Payments Frequently Asked Questions (FAQ)
When was Crossflow Payments founded?
Crossflow Payments was founded in 2013.
Where is Crossflow Payments's headquarters?
Crossflow Payments's headquarters is located at Becket House, London.
What is Crossflow Payments's latest funding round?
Crossflow Payments's latest funding round is Incubator/Accelerator.
Who are the investors of Crossflow Payments?
Investors of Crossflow Payments include PWC Scale and Calibrate Partners.
Who are Crossflow Payments's competitors?
Competitors of Crossflow Payments include Tradeshift and 2 more.
What products does Crossflow Payments offer?
Crossflow Payments's products include The Working Capital Marketplace.
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