New blockchain platform aims to tackle £3bn invoice factoring market

By Lisa Walls-Hester on 6th February 2017

P2P/Marketplace LendingInvoice Funding

Populous, a London-based startup, is set to launch a smart contract invoice marketplace. The new platform will use blockchain to disrupt the invoice financing industry.

New blockchain platform aims to tackle £3bn invoice factoring market

The platform’s distributed ledger technology will generate and transmit smart contracts and create a digital marketplace through which small businesses can finance their unpaid invoices.

It says it will provide cheaper and faster access to capital for businesses, with attractive yields for investors.

Where Populous differs to any current alternative lending platform or traditional institution comes down to its bespoke algorithm, fusing contemporary data science to precisely credit score applicants with innovations in automated settlement via smart contracts secured on the blockchain, while using IXBRL data to generate targeted opportunities.

This has enabled Populous to create an ultra-fluid marketplace, targeting specific small and medium enterprises that meet precise lending criteria to mitigate the risk of any delinquency. And it is agile enough to oversee the funding and repayments of participating investors autonomously.

The platform has been in development for 24 months and will be fully operational by Q2. The company has so far been self-funded by Populous’s CEO, Stephen Williams. Williams believes Populous will be the first smart contract blockchain-based financial services’ provider ever created. 

Comments

Niall mccarthy

25 Jun 2017 02:35pm

This has serious potential. Hope it works out for all involved. Best of luck.

AltFi Amsterdam Summit 2018

AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.

5th November 2018


More like this:

Zopa boosts rates for investors

17th September 2018
Daniel Lanyon

Property lending platform joins P2PFA

18th September 2018
Ryan Weeks