Finyoz & Currencycloud collaborate for innovative supply chain finance solutions

Finyoz, a lending technology (lendtech) platform specialising in short-term invoice financing, has partnered with Currencycloud, specialists in multi-currency operations, to deliver innovative supply chain finance solutions. The collaboration is expected to benefit companies keen on 21st century financing and investors alike.

Finyoz's business model is primarily centred on matching companies in need of short-term invoice financing options with private and corporate treasury investors. Its automated online platform enables companies to upload invoices and display financing fees, along with facilitating easy communication with a company's debtor. Investors, on the other hand, are allowed to allocate funds between 14 and 90 days, earning interest over the specified period.

The partnership with Currencycloud will enable Finyoz investors to collect funds in their preferred currency, which can then be converted to the borrower's preferred currency. Additionally, Currencycloud's expertise in multi-currency operations will allow Finyoz investors to hold cash in a digital wallet and deploy them across various funds.

Moreover, Finyoz's corporate treasury clients will be able to tap into Currencycloud's global ecosystem, thereby enhancing the efficiency of payment cycles and international foreign currency transfers.

Commenting on the partnership, Thorsten de Jong, CEO of Finyoz Deutschland GmBH, said, "Currencycloud has been a dream partner on this deal. They combine state-of-the-art technology with robust security credentials. They've been professional and dedicated throughout." De Jong adds, "Most importantly, they realised there was no easy blueprint for this business model – we're doing something genuinely innovative, and that requires building things from scratch."

Piers Marais, Head of Product of Currencycloud, responded, saying, "Supply chain financing is an area that's ripe for disruption, and Finyoz is one of the most exciting teams in the business. The team has an excellent vision and fully understands the needs of their two most important stakeholders - investors and businesses in need of finance." Adding to this he shared, "We're so pleased to be on this growth journey with them and look forward to continuing to deliver new and innovative products and services to their clients."

Finyoz stands out for democratising investments and making these as simple and safe as savings accounts used to be, while Currencycloud provides an efficient infrastructure solution for moving money across borders and transacting in multiple currencies. This partnership comes as a beacon of modernisation in supply chain financing, aiming to unlock unprecedented opportunities for companies - big and small - as well as individual investors.