User:Fierystar/InvoiceInterchange

InvoiceInterchange is an online invoice finance platform founded in Singapore. Launched in 2015, they specialize in making it simpler and transparent for businesses to get the finance they need.

Business Model
InvoiceInterchange is an online invoice finance platform providing selective invoice discounting or whole turn over invoice discounting services to SMEs. SMEs can sell their outstanding invoices (due e.g. 30, 60, 90 days) to a network of investors on the platform, thus allows them to get their cash upfront. Applying is simple and online and the seller usually receives funds within 24 hours of posting an invoice.

History
InvoiceInterchange was founded by Brian Teng and Nalinee Chinowuthichai in 2015 (CEO and COO respectively).

As a qualified CPA accountant, Brian first worked at Ernst & Young and Deloitte before moving to the UK, where he primarily worked in investment banking and financial services.

Nalinee is a qualified software engineer, with a Master in Operations Management from the University of Melbourne. With over 10 years of experience in the banking industry in Australia and UK, she worked on various areas such as bank system integration, improving operational efficiency and implementing regulatory requirements.

Based on their different work experiences, Nalinee and Brian came to understand the financial constraints business owners face due to a lack of access to funding and how technology can be used to simplify the world of finance. This is one of the reasons that spurred them to start InvoiceInterchange in 2015.

Recognition
InvoiceInterchange was chosen among 10 other startups to be part of the 2015 DBS HotSpot Pre-Accelerator Program. In 2016, they were among the top 3 selected fintech startups to be part of Paypal Incubator Programme in Singapore InvoiceInterchange was also selected as one of the top 40 fintechs for the Monetary Authority of Singapore (MAS) Fintech Awards 2016 as well. They were also awarded Silver for Best Innovative Start-up (Early Stage) at the Singapore infocomm Technology Federation (SiTF) Awards 2016. In 2017, InvoiceInterchange was chosen as part of eight top international fintech companies to participate in the Bangkok Bank Innohub Accelerator Programme.

Partnership
InvoiceInterchange is in partnership with AccountsServe and HR Easily since 2016 and 2017 respectively. They also secured a partnership with Nufin Data in October 2017. With this collaboration, InvoiceInterchange provides invoice financing services for users on the Nufin Data platform named NEMO.