NoviCap was established back in the year 2014 with its main mission being that of making invoice finance effortless and universal. Invoice finance has been in existence for so many years and has eventually gained a reputation for commercial practices. Since the creation of NoviCap, it is clearly observed that traditional invoice finance firms are making their products sound needlessly sophisticated with the main aims of charging high rates and introducing confusing fees.
What is NoviCap?
NoviCap is a platform that demystifies the complexity of invoice finance and makes it reachable by everyone. NoviCap enables you to finance your business by selling the collection of rights of your invoices to a large base of professional investors. That is, you can access up to 90% of the invoice value in less than 48 hours. The technology used by NoviCap was built from the ground level with the customer in mind. NoviCap is aimed at providing an invoice finance facility where all steps are easy, transparent and fast. The new technological approach brought by NoviCap has eliminated much inefficiencies thereby making invoice finance easier than before. In their existing invoice software, customers are given a simple “push for cash” button.
How does NoviCap work?
Apply Online: This is the first step to benefiting from NoviCap. Here, you fill and submit an easy online application form. Applying to join NoviCap is free of charge and has no strings attached to it. Application status are update within 24 hours.
Upload an Invoice: Once your business has been approved on this platform, you can login and upload the invoices you’ll like to sell to the investors present.
Invoice is traded: your invoice is then offered for sale to a large base of professional investors who will compete to buy. This usually takes place within 24 hours.
Cash is advanced: Once your invoice has been funded, you can expect to receive financing within one working day from the investors.
Invoice Settlement: At this point, your client pays the invoice directly to a central escrow account.
Investing with NoviCap
To invest with NoviCap, you’ll need to deposit funds into a dedicated segregated client account which is held by Barclays Bank plc. Remember to diversify your portfolio by setting your investment preferences. We’ll advise that you go for a more hands-off approach as you invest automatically in invoices of your choice. Once the invoice is settled, you can expect to have your account credited.