KredEx Credit Insurance started cooperation with the new working capital financing platform Inwise
KredEx Credit Insurance Ltd. and Inwise OÜ signed a cooperation contract, which provides companies better access to the alternative financing of working capital through the factoring platform of Inwise.
Inwise OÜ has created an innovative on-line environment where companies can sell their sales invoices easily and simply to the investor who makes the best offer. KredEx Credit Insurance offers the opportunity to insure the risk of the insolvency of the recipients of the invoices at a 90-percent rate for invoices for which Inwise is an intermediary.
“The environment created by Inwise helps the small and medium-sized enterprises, on whom banks do not focus due to their small size or inability to provide guarantees, to get easier access to investments by private investors into their working capital,” said Meelis Tambla, Chairman of the Management Board of KredEx Credit Insurance
“Cooperation with KredEx Credit Insurance increases interest among investors, as the credit insurance manages a large part of the investment risk. This in turn creates better opportunities for companies to sell their invoices, providing easier access to the alternative financing of working capital the Estonian small and medium-sized companies need. The objective of Inwise is to offer entrepreneurs an easier and faster need-based solution for financing their operations when compared to banks,” added Indrek Vilms, founder of the Inwise platform.
KredEx Credit Insurance helps to manage buyer-related risks involved in exporting and local sales, and assists companies in expanding into new export markets.
Inwise OÜ is a new environment for the sale of invoices where companies can sell their sales invoices easily and simply to the investor who makes the best offer.