FRENNS FRENNS Ltd London, UK 2016 Private Finance / Trade Finance Company description FRENNS online platform allows companies access to invoice financing, not available for them in the current market. FRENNS platform use AI technology to automate the process resulting in a dramatic reduction in costs. SMEs can harvest the benefits of their profits and get Cash Flow support instantly. Product description FRENNS connects investors with healthy SMEs who want to auction off their invoices and get cash in minutes. An SME syncs its accounting software with the FRENNS platform where the company financials are verified and thoroughly tested for fraud, allowing banks and accounting firms to instantly get a detailed overview of a company’s current and future financial health. Once approved, the SME uploads its invoice to the platform for automatic financing, where investors registered on the platform bid on the invoice either manually or by stipulating the interest and fixed return for each invoice, generating between 1-7% per month return for investors. Functionalities FRENNS automates the analysis and financing process, making it possible to identify and provide healthy SMEs with a fast financing solution, despite non-existing or low credit, and the opportunity to finance smaller invoices under €5000 that are considered too small by traditional financial institutions. The FRENNS Analytics platform gives SMEs useful financial insights, allowing business owners to make better and more profitable decisions. Additionally, the FRENNS white label analytics platform for finance and accounting firms uses patented AI technology to verify and analyse information from the SME’s accounting software in real time, giving deeper insight into a company’s current and future financials, than the currently used, slow, and semi-manual processes. Achievements FRENNS platform has achieved the best fraud detection this far by automatic analysis of the customers and is currently the fastest invoice financing platform globally. Europe “Very smooth and easy process to fund on invoice. Funding was super fast as was the rebate after our customer paid. Highly recommended Frenns!” FRENNS customer. Scan to go to the website UPDATES & TRENDS 63 FRENNS LTD
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