uses cookies on this website. They help us to know a little bit about how you use our website, which improves the browsing experience and marketing - both for you and for others. They are stored locally on your device. By continuing to use this site you accept this use of cookies. Go to the Privacy and Cookies page for more information. You'll see this message only once.
Not signed in. Log in here.

Workinvoice launches securitisation vehicle for marketplace receivables

By Lisa Walls-Hester on 12th January 2017

Workinvoice, the Italian invoice trading platform, has just launched and funded the first Italian securitisation vehicle for marketplace receivables.


Factor@Work, an Italian based portfolio manager, has completed the purchase of 5m of corporate receivables through a securitisation vehicle. All the assets have been originated by Workinvoice, the Italian invoice trading platform.


A first for Italy’s securitisation market, the deal was arranged by Workinvoice, while Zenith Service1 acted as SPV provider and master servicer. The receivables being securitised were sold by SMEs through Workinvoice’s invoice trading platform.


As part of this new securitisation model, Italian SMEs utilise the platform developed by Workinvoice to offer for sale some of their trade receivables held against their clients; the investor may then enter into a credit insurance agreement with an insurance company.


Commenting on the transaction, CEO of Workinvoice, Matteo Tarroni, said: "We are pleased to continue developing new sources of financing for Italian SMEs, particularly in this instance on a market first transaction, demonstrating the capability of the firm's origination model and our role as one of the leading marketplaces in the fast growing FinTech sector."


Arrow Global Group PLC, one of Europe's leading purchasers and managers of debt, announced on December 6, 2016, its intention to enter the Italian market having agreed on terms to acquire Zenith Service SpA. The transaction is subject to regulatory approval by the Bank of Italy.


Enter your name:

Enter a comment in the box below:

More like this:

Revolut to add Ripple to cryptocurrency offering
16th February 2018
Emily Nicolle
Arrowgrass to float fintech assets on AIM
13th February 2018
Ryan Weeks
Seedrs releases data on its secondary market
13th February 2018
Emily Nicolle
French payments challenger Lydia raises €13m
16th February 2018
Emily Nicolle