Since launching in 2018, Populous World has attracted SMEs to their invoice discounting service and has financed over £4mil in invoices to date.
Populous World is an innovative ecosystem that helps small-medium UK businesses sell invoices for typically up to 95% of their value for an invoice with 30-day payment terms. To facilitate the matching of invoice buyers and sellers, the team have built a native (and incentive-driven) credit rating platform that will initially use publicly available, UK registered limited company data.
1. You provide sale of goods or services to your customer.
2. Upon verification and risk assessment, provide the invoice that will be payable to ‘Populous World’ to your customer.
3. Upload said invoice onto our platform which then invites invoice buyers to bid on your invoice.
4. Receive the cash flow within 24 hours of the auction closing sans interest fee.
5. Upon repayment, the customer repays the invoice by making a full payment to ‘Populous World’.
How do I apply?
Getting started is quick and simple. Register and create an account on Populous World‘s online platform, log in to your account and complete your customer profile (KYC), once you have been verified you can then start listing your invoices on the platform and get funded!
How much does it cost?
Populous World offers a competitive fixed fee service with no hidden charges. All quotes are final and once accepted, will be the only fee levied by Populous World. The fee is 2.4% of the amount of the invoice within a 30-day repayment term.
(Please feel free to contact the PW team for fee quotations if you require a specifically structured product).
What Invoice Discounting structure does Populous World offer?
Invoices can be sold on the Populous World platform individually. This presents a client with full control of their facility, where they can subscribe to the service on a ‘pay-as-you-use’ basis. A client can choose to discount their entire trade receivables or appoint our services tailored to the needs of the business.
Credit Ratings — what’s the process?
There are many factors involved in providing a credit rating to your company, which will determine the quoted interest rates. Among the factors considered is the Altman Z-score where it takes into account a client’s past and current financial information.
Generally, the process involves the client’s most recent audited financial statements, or equivalent for companies that receive exemptions from financial statement audits and other documentations as necessary.
What are the requirements?
As with all financial services, certain criteria does need to be met in order to ensure that the factoring contract will be beneficial and sustainable. Populous World requires the following:
Credit Insurance We require our clients that we work with to have credit insurance with us as the beneficiary.
Deed of Debenture
A debenture is a written agreement between an invoice buyer and seller, which sets out the charges and details the terms and conditions.
A signed guarantee from the client over the balance of the outstanding invoice amount.
>> Is your business in need of fast, short-term financing? Do you need to access cash faster than your customers pay you?
Populous World is an Invoice Finance provider that unlocks working capital for UK businesses.
Bridging your business’s cash flow gap is something that Populous World excels in delivering, providing you with the funding tools to grow and sustain your business.