End of Hard Cheese for SMEs
I was at Barclays Techstars demo day last month, and whilst these guys aren’t actually Northerners they are a jolly good fintech, so I thought to give them a mention here. The company name is Nimbla, which isn’t bad for a fintech, they often choose wonderfully eccentric names not even their own mothers would approve of. Oh wait…that was me.
Moving on. What this rather cool startup does is insure invoices, for SMEs. So if a small firm has a contract to supply goods or services, on credit, which is normal, they can insure particularly critical invoices against non payment. This is a potentially company saving step. Around 50,000 SME’s in the UK go pop each year due to bad debts, and there’s been some big firms hitting the wall of late, splattering many an SME and contractor with insolvency juice, and it’s probably going to continue into the years to come as the retail giants have their previously solid city center foundations nibbled away by the mice of digital commerce. So link through, mouse fans, and see the Nimbla alternative to hard cheese.
https://blog.nimbla.com/how-single-invoice-cover-is-allowing-smes-to-grow-with-confidence/
