Finturi, a Dutch-based blockchain startup firm as raised around 2.2 million dollars to increase its blockchain based invoice financing platform. This platform also allows for businesses to protect loans against invoices through the use of blockchain technologies, the Finturi firm posted it on March 12.
Small and medium-sized enterprises (SMEs) in Europe produces two-thirds of jobs and value added of 62.9 percent in the non-financial business economy. It is very much difficult to increase the working capital for SME’s. Financing methods like invoice factoring are costly, time-consuming and are not user-friendly. Finturi, a Netherland based startup is trying to solve these issues using Artificial Intelligence and blockchain technology.
Finturi was incorporated in September 2018 and intends to support finance invoices of businesses by connecting them with financers and allows them to take money against invoices. The platform will be implemented with the help of artificial intelligence and blockchain, EU-Startups.com mentioned about it on March 11. The platform is expected to be launched by the third quarter of 2019.
The CEO of Finturi is Johannes Brouwer who is leading the company along with 12 qualified employees which includes product experts, data scientist, blockchain developer, marketing professionals, growth hackers and domain experts. The team of Finturi has designed award-winning blockchain products for the Fintech industry in recent times. To make invoice financing quick, easy, secure and of low-cost, Finturi is making use of artificial intelligence and blockchain.
The goal of Finturi team is to offer a full peer-to-peer (P2P) platform for businesses clients in the days to come.
Many new businesses are facing difficulties in raising capital and concerning over the matter, the CEO of Finturi stated that the company is planning to create a robust product that will allow businesses to receive a loan within 24 hours against invoices. The new platform of Finturi will offer financiers a platform which will enable them to make investments in invoices with little struggle.
The main investor of NetSam Participaties BV mentioned that combining blockchain technology with artificial intelligence has a great potential to remove the inefficiencies that are present in the existing financial processes. The platform will reduce costs, offer better security and increas processing time.
A week ago, Nouriel Roubini, the economist and notorious crypto personality said that blockchain technology has nothing to do with the future of financial services.
In recent times, five Japanese banks have collaborated and will be launching blockchain based financial services in infrastructure. The financial services will be aiming at various operations of finance so as to make improvements. The Japanese banks will be implementing techniques of IBM for the development phase.
Key investor from NetSam said that he is very much delighted to see one of his portfolio Company is working on blockchain technology, he even trusts the Finturi team and is sure that the investment will allow Finturi to innovate more in the days to come and will be the leading invoice finance platform of the world.