NoviCap was started in 2014 with a mission to make invoice finance universal and effortless.
The invoice finance industry has been around for a long time and has rightly gained a reputation for predatory legal and commercial practices. Since we started NoviCap, it has become clear to us that traditional invoice finance firms make their product sound needlessly complex in order to charge higher rates and confusing fees.
The root cause for this widespread industry behaviour is systemic as factoring firms have a lot of overhead costs. They do not leverage technology to offer online services and rely on expensive field sales to gain clients. Many are so low-tech that they run their business entirely on excel spreadsheets. The few firms that use software are using expensive legacy systems. This inefficient cost structure causes traditional firms to overcharge their customers and to save money in customer service.
This is why in 2014 we started NoviCap and have built our technology from the ground up with the customer in mind. The end result is an invoice finance facility where every step is easy, fast and transparent. You can experience this difference with our instant pricing, fast onboarding, rapid turnaround, simple fee structure and ultimately much lower rates. Since our technology eliminated so much inefficiencies it has become truly easy to use. We are able to give customers a simple 'push for cash' button in their existing invoicing software.
An alumni company of the Barclays Techstars Accelerator, NoviCap is based in London and Barcelona.
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