Business finance marketplace Platform Black has introduced fixed pricing throughout its product line. It is the next step in the company’s goal of increased transparency, they said in a release.
Registered businesses can submit invoices and request fixed price funding, which is agreed to up front. That enables funders to offer financing against the invoice while knowing the eventual return. The auction closes after the desired funding level has been reached.
“This is a significant development in the market and will allow funders to bolster their support for UK businesses,” managing director Caroline Langron said. “The provision of fixed pricing will speed up the whole process and provide greater certainty on both price and return, allowing funders to make informed decisions quickly.”
Fixed pricing is immediately available with both single invoice trading and supply chain finance for companies seeking between £5,000 and £10 million.