There are two big problems waiting to be solved in small business finance. Small businesses find it hard to access working capital at good rates. And lots of investors have capital lying around doing nothing, looking for somewhere to be deployed. Obillex is a new startup that, quite simply, matches up the two.
Thus, ‘early payments finance’ startup Obillex has secured £3m in funding, led by Dawn Capital and supported by MMC Ventures, to accelerate this model.
Essentially Obillex allows access to capital to settle invoices early for small business. The investors get a good return on what is a low risk exposure and the buyer who sits in the middle gets a small rebate and discount on their invoices. Technically this is a ‘win-win-win’ for all three parties.
Founded by Damian Crowe and developed over the past three years, Obillex works for businesses of all sizes across both public and private sectors.
Supply chain finance is a market waiting for more disruption and there are a variety of old and new competitors in the area, such as Market Invoice, C2FO, Capital Eight and of course the banks.
Josh Bell, Partner at Dawn Capital joins the board of directors.