Investly allows businesses to unlock cash from their invoices, resulting in increased sales and improved liquidity. Without it, businesses would have to wait weeks or months to receive payment. Just like many small businesses in the UK, Matt and Ben’s Proper Fudge Company faced long payment terms of 60 days on their invoices. Ben Robertson, the Director of Matt and Ben’s has shared his experience working with Investly, explaining the ease with which they were able to fund their invoices on the platform:
The benefits of invoice financing
By using invoice financing, Matt and Ben’s was able to avoid having to turn down orders. Cash from their 60-day invoices was released within 2 days of uploading on the platform. Instead of waiting around, they were able to focus on growth and take on the largest order they had processed to date. By affording quality ingredients and being able to hire more workers, they were able to maintain the artisanal nature of the product. This allowed their proper vanilla fudge to reach the shelves of almost 200 M&S stores across the UK and Ireland.
Matt and Ben’s needed financing to:
- Handle their first large order for a major retailer
- Source more ingredients
- Hire new staff members
Outcomes:
- Invoices funded within 2 days on Investly platform
- Able to quickly re-invest funds from invoices allowing the business to grow
- Product available in nearly 200 Marks & Spencer stores in the UK
- Lower cost on credit than alternatives (banks, factoring)
Read more about how invoice financing works.