Alternative finance platform Crossflow Payments clinches investment
Supply chain finance provider will use funding to scale its offering to more corporates and small suppliers
Crossflow Payments, an alternative finance platform, has secured “significant investment” from Calibrate Management, which takes a minority stake in the company.
Founded by John White in 2015, Crossflow Payments is a technology driven alternative finance platform that allows large corporates and their smaller suppliers to access supply chain finance.
Small businesses can raise finance against their outstanding invoices and larger businesses can access working capital and strengthen their supply chains. Supply chain finance revenue is expected to grow by around 15% in the coming years.
The finance will fuel Crossflow’s “ambitious growth strategy” as it looks to scale its proposition to reach more customers.
Calibrate Management’s founder John White and Remy Kesrouani will join Crossflow as ongoing strategic investment advisers.
Tony Duggan, chief executive of Crossflow Payments, said: “I am delighted to welcome Calibrate onboard as a key shareholder in our business.
“This investment comes at an important time for us not only in providing additional firepower to help support further scaling of the business, but also in providing us access to two of the most respected investors in the City.”
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White added: “The supply chain finance market presents a significant opportunity for new entrants who are able to offer an alternative proposition, combining deep credit expertise with technological innovation.
“That is exactly what Crossflow Payments is able to do with a highly scalable and exciting business model.”