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Iwocapay is a new business venture from iwoca, one of London’s leading Fintechs, to offer payment terms as a service. Metaphorically this is a cross between a domestic version of trade finance – helping finance a supply chain – with an oldschool (and rather harder to get these days) bank overdraft – ie a flexible facility which can be paid up and down at will. PTAAS means that suppliers get what they want – goods out, cash-in whilst customers get optionality to manage payment terms as proves most convenient to them.
In this world of post-covid destruction of the economy in the UK small businesses have had the largest hit ever. Fintech cannot sort that but it can oil the wheels of financing supply chains and as we know most businesses go broke due to inadequate cashflow/financing than as they are making losses.
Thus now more than ever innovations for the small businesses that are iwoca’s core market are needed.
In this episode Lara Gilman,, co-lead of iwocapay, takes us through this. Topics discussed include: Continue reading