{"id":48467,"date":"2018-05-21T00:31:04","date_gmt":"2018-05-20T23:31:04","guid":{"rendered":"https:\/\/startups.co.uk\/startups-100\/?p=48467"},"modified":"2022-01-14T16:58:16","modified_gmt":"2022-01-14T16:58:16","slug":"67-previse","status":"publish","type":"post","link":"https:\/\/startups.co.uk\/startups-100\/2018\/67-previse\/","title":{"rendered":"67. Previse"},"content":{"rendered":"

Founders: <\/strong>Paul Christensen, David Brown, Dr. Philipp Schoenbucher, Giulio Rossi, and Andre de Cavaignac
\nFounded: <\/strong>2016
\nWebsite: <\/strong>www.previ.se<\/a><\/p>\n

With experience across the financial sector – in everything from technology and risk-management, to payments and compliance – the four founders of Previse had a collective desire to “end the scourge of slow payments”.<\/p>\n

Paul Christensen, David Brown, Dr. Philipp Schoenbucher, Giulio Rossi, and Andre de Cavaignac wanted a sustainable way to unlock the billions of dollars owed to small businesses from the supply chain to help the economy at large.<\/p>\n

Founded in 2016, Previse uses artificial intelligence (AI) to create and share value from invoice data so multinational buyers can ensure even their smallest suppliers are paid instantly – unlike current trade finance programmes (which only focus on the largest suppliers and only help after the invoice has been approved).<\/p>\n

Even the suppliers that can get credit are charged extortionate interest rates, which increases prices for buyers.<\/p>\n

Previse claims there is a $2.4 trillion global market of small suppliers looking for credit to cover “short-term liquidity challenges”. Bringing the payment date forward can instantly unlock cash value from invoices benefitting everyone in the chain.<\/p>\n

Instead of £95 in today’s money after waiting £100 for the settlement of a £100 invoice, they can be paid £98 instantly. That £2 discount is then split between Previse, the finance provider, and the buyer (for giving access to their data).<\/p>\n

Previse was recently announced as the first company in Scotland to partner with Auticon, a UK social enterprise that exclusively hires autistic people and contracts them to businesses as consultants. It will now work with a number of consultants on security and test automation projects.<\/p>\n

Backed by £2m in seed funding<\/a>, the start-up will now focus on on-boarding more customers to invest in and grow the business so that it can continue to help more of the 60% of small businesses around the world that are paid late by corporates. This forces them to write off billions in unpaid bills and to risk closure.<\/p>\n

In the UK alone, Previse says this could unlock £67bn that could then be invested in boosting productivity and growing the economy at large. But this problem isn’t limited to our shores, and the start-up thinks it could have a “world-first, unique solution to this huge, global issue”.<\/p>\n\n","protected":false},"excerpt":{"rendered":"

Founders: Paul Christensen, David Brown, Dr. Philipp Schoenbucher, Giulio Rossi, and Andre de Cavaignac Founded: 2016 Website: www.previ.se With experience across the financial sector – in everything from technology and risk-management, to payments and compliance – the four founders of Previse had a collective desire to “end the scourge of slow payments”. Paul Christensen, David […]<\/p>\n","protected":false},"author":63583,"featured_media":48469,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[183],"tags":[],"class_list":["post-48467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-183"],"acf":[],"yoast_head":"\n67. 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