Alex Fenton: GapCap
The flexible invoice finance platform helping businesses access short-term growth finance within 24 hours
Alex Fenton, 28
Cashflow problems are the small business equivalent of the common cold, cited as one of the most frequent issues faced by start-ups on a day-to-day basis.
At the mercy of late paying customers, small businesses can find themselves without enough liquid capital to invest in ongoing growth.
Founded by inspiring young entrepreneur Alex Fenton in 2014, GapCap provides the cure to this all too common affliction with its “straightforward” and flexible invoice finance platform. Businesses simply upload an outstanding invoice to receive an advance of up to 85% of the invoice value within 24 hours.
When their customers pay up, GapCap sends the remaining 15% minus a small fee, with no hidden monthly fees, termination fees or management fees.
The platform says it sees its clients as “partners, not simply customers”, developing “real relationships” to help them find the right cashflow solutions to meet their needs.
Amongst its clients are major Amazon suppliers, a top private apprenticeship provider, up-and-coming food and cosmetic brands and even the contract staff doing road repairs in Bradford.
With over £14m raised from investors, Fenton and his team of 17 staff are providing a simple and flexible solution to a problem as old as enterprise itself, at a time when entrepreneurs and growing businesses are increasingly looking for alternative sources of finance to fuel their ambitions.
Posting growth of 752% between 2015 and 2016 and hitting £80m worth of invoices funded to date, GapCap is on a mission to help more and more small businesses realise their dreams.