Founded Year

2013

Stage

Incubator/Accelerator | Alive

Revenue

$0000 

About Crossflow Payments

Crossflow Payments is a supply chain finance service provider enabling the fast deployment of supply chain finance connecting corporates, suppliers and non-bank sources of funding. Crossflow Payments is helping businesses optimize their working capital and strengthen their supply chain while allowing SME suppliers to instantly access outstanding invoices.

Crossflow Payments Headquarter Location

Becket House 36 Old Jewry

London, England, EC2R 8DD,

United Kingdom

+44 0 203 468 5311

Crossflow Payments's Product Videos

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Crossflow Payments's Products & Differentiation

See Crossflow Payments's products and how their products differentiate from alternatives and competitors

  • 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.

    Differentiation

    Speed of access to funds (within 48 hours of approved invoice. AI and Machine Learning to match funders with invoices to ensure best available rate to suppliers. Broad range of funders so not behol… 

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.

S

SMB Fintech

1,145 items

F

Fintech

4,692 items

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Latest Crossflow Payments News

Crossflow Payments CEO Duggan: £266 billion of SME Turnover Delayed by Late Supplier Payments

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...

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  • 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.

  • What products does Crossflow Payments offer?

    Crossflow Payments's products include The Working Capital Marketplace.

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