BillFront pays businesses their pending invoices instantly, enabling rapid reinvestment of profits into growth.
Irregular or delayed payments can stunt the progress of a business, and we’ve already seen how an app is helping turn freelancers’ pay into regular income. BillFront are enabling app and advertising businesses to receive their owed revenue faster.
BillFront works by fronting the revenue of a pending invoice. Businesses first sign up and provide information about their existing debtors, including financial details such as how much they expect to get paid each week or month. BillFront will then payout instantly, minus a small administrative fee, and collect the invoice payment later. Receiving payments faster, say BillFront, enables businesses to release their working capital earlier and more frequently.
BillFront is part of a new wave of disruptive finance platforms, using alternative credibility to provide short term loans, as illustrated in our Fin Tech Top 10. How else can services help startups receive financial aid?