Over the past few years, online invoice financing startups have been entering the established factoring industry turning it into one of the latest tech crazes. In the latest sign of just how hot the industry’s disrupters have become, one of the new online players, announced another $40 million in venture funding.
Businesses who are looking for invoice factoring services should take heed when VC’s crowd into a new market; one can’t help but be reminded of the dot.com bubble and burst. So, if you’re a B2B business owner, would that impress you or help you to sleep better at night? All of that money comes with strings attached. It means managing each and every factored invoice to 3rd party interests, rather than to the customer’s interests.
Additionally, these “new” invoice factoring companies are being touted as “high-tech” and are officially called fintechs. What that means is that an algorithm determines if your company’s invoices are worthy of being factored. You, your company, and your customers either fit snuggly into their check-boxes or you don’t.
Universal Funding, on the other hand, has been around for almost 20 years. We may be old-school, but we’re also state-of-the-art, with quick and easy invoice submittal and online transfer of funds.
What sets us apart from these other fintech companies, is our personal touch; each and every customer has a real-live expert that reviews each and every application and invoice. And we can finance bigger companies; where their financing options are capped at $200 thousand per year, we can provide companies with funding up to $5 million per month.
What that means to you is a personalized, easier, AND less expensive invoice factoring experience because Universal Funding doesn’t have to answer to shareholders; they answer to their customers. Give us a call at 800-405-6035 or fill out a rate form to get started today