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Invoice Exchange enters Croatia after it provided 160 million to Slovenian companies

Day 26. March 2020 posted Mitja Sagaj
 

The Invoice Exchange, which has already provided more than 160 million in financing through its online platform to Slovenian companies and sole proprietors this year, is after successful business and growth in Slovenia, starting its story on the Croatian market, where it will be present from the end of April.

 

Although the Invoice exchange team is already sensing that market liquidity has fallen slightly due to tight economic conditions, it is constantly monitoring the situation and looking for the best solutions for the smooth operation of the platform.

 

The Croatian Claims Platform will operate through P2P finance d.o.o., which was established in October 2019 in Zagreb. It will provide mutual financing services, including online sales of receivables and short-term loans, aimed at businesses that need quick and easy financing and, on the other hand, an attractive and safe investment for businesses looking for a more lucrative alternative to bank deposits.

 

Why would the success story from Slovenia not repeat in Croatia

The model of conducting business in Croatia is similar to that in Slovenia and has already been successfully adapted to the Croatian legislative framework. The management of the company in Croatia took an Invoice Exchange partner Sašo Breitenberger, who has many years of experience in working capital financing in Croatia and the region.

 

"The initial responses from the Croatian market are positive and we see no reason why a successful Slovenian story could not be repeated in Croatia. The need for working assets financing is high, mainly due to the highly seasonal nature of the Croatian economy, as well as due to long payment deadlines in the construction and manufacturing industries, "says Sašo Breitenberger, Partner of the Invoice Exchange and P2P Finance Director and adds: "On the other hand, almost 300 billion Croatian kunas sit in deposits at historically low-interest rates in Croatian banks. We expect that some of this money will end up in short-term receivables and commercial loans through our platform."

 

The awards confirm the excellence of the Invoice Exchange

The Invoice Exchange, which has been the recipient of the Slovene Enterprise Fund's convertible loan SK200 in the past, achieved growth last year and offered short-term loans to companies on the domestic market, which were received exceptionally positive. They were also nominated for the Best Business for the European Business Awards in the category 'The Digital Technology Award With Turnover of €0-25M

 

Deloitte recognized Invoice Exchange as the second fastest-growing company in Central Europe, in the 'Rising Star' category. With the start of operations and expansion of services of the financial peer-to-peer business model of the Claims Exchange to Croatia, there will also be new and up-to-date financial solutions available to the companies in this region, which will certainly help to develop and raise the working capital financing market.

 

 

 

 

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Content support for recipients of P2, SK75 or SI-SK financial products under the "de minimis" scheme is co-financed by the Slovene Enterprise Fund and the European Union from the European Regional Development Fund. This is implemented on the basis of the Content Support for Funds Recipients (SMEs) Programme in the 2018-2023 period, under the Operational Programme for the Implementation of the European Cohesion Policy 2014-2020.

 

Tags
Invoice Exchange Success Croatioan Market SEF Slovene Enterprise Fund
Head of PR and Communications Start:up Slovenia & PODIM Conference
Izvedba: Mojdenar IT d.o.o.