Why Finance with FRENNS?
We can help you unlock the cash held in unpaid invoices to grow your business or ease cash flow. We auction your outstanding invoices to a “crowd” of willing investors. The invoice auction helps drive down the rate you pay: invoice investors compete to give you the best discount rate on the invoice. We advance you up to 99% of the invoice as soon as the auction finishes. When your customer pays us for the invoice, we pay you the remainder of the total value of the invoice..
- Get funds fast — Full automation means you can have funds in your account within 24 hours of signing up
- Flexibility on finance terms — You state the terms you are willing to accept for getting an advance on the invoice
- Peace of mind — The platform provides security safeguards without compromising flexibility or transparency
Why choose FRENNS over traditional factoring?
|Receive typically only 80-85% of invoices||Finance up to 99% of invoice value|
|High interest rates||Dynamic auction process helps reduce the cost of finance|
|Old fashioned and slow||Fast, fully automated including e-invoicing capability|
|Lending decision based on overall ledger and creditworthiness
of specific invoices
|Advanced cash is determined by payment history and your customer|
|Secured against personal collateral||Secured against your customers|
How it works?
Sync/upload your invoices
Synchronise your online accounting system with the FRENNS platform or individually upload invoices
We process them…
Quickly and efficiently with customer approvals and e-invoices.
We pay the funds directly into your account as soon as the auction is over
How much does it cost?
We have decided to make it very simple for everyone. We have automated the whole process so the business pays maximum 0,9% on the face value. We can match ANY of the competitors in pricing at any time. The minimum charge is the bank transfer fee where we give you the same fee as we are charged by our bank.
There's full transparency on all costs and charges. We also run an affiliate programme that will give you discounts based on how many active trading customers you invite to the platform.