Timelio has reached A$100 million in invoices funded
Timelio hits the big time, having completed A$100 million in invoices funded.
Melbourne-based peer-to-peer lender Timelio has hit the nine-digit mark, having successfully funded A$100 million in invoices through its platform since it was launched two years ago.
The company's growth was given fresh wind in Q2 which saw the volume of invoices funded increase 50 percent on the previous quarter.
“The growth has been fantastic and we are extremely pleased with the high take-up and strong interest from SMEs,” said Charlotte Petris, Timelio’s CEO.
“Our customers range from early stage businesses through to established ASX listed companies.
“In particular, the growth of our export finance service has seen us fund invoices from across Asia, New Zealand, UK, US and Africa.”
Like Qupital in Hong Kong and Capital Match in Singapore, Timelio provides a two-way marketplace for invoices and offers SMEs an easy online solution for working capital problems.
The company launched Timelio Capital Fund, a unit trust that offers institutional investors exposure to invoices, in early 2017 with the support of billionaire Alex Waislitz’s Thorney Investment Group.
The fund has seen annualised net returns of 7.3 percent according to a press release from Timelio.
“The fund provides investors, such as SMSF trustees and fund managers, with a new, uncorrelated asset class,” Ms Petris said.
“It has attracted both domestic and international investors looking for income returns above traditional low yielding fixed income and term deposits.”