Blockchain Startup Aims to Tackle £3 Billion Invoice Factoring Market

London, UK – February 03, 2017 – Populous, a startup based in London, UK, aims to tackle the increasing demand to service a growing number of small and medium-sized enterprises (SMEs) denied access to traditional forms of trade finance.

Populous’s goal is to achieve this by facilitating a smart contract based invoice marketplace, where invoices are crowd-funded to provide cheaper and faster access to capital for the SMEs, and safe, secure assured investments, with attractive yields for investors.

An equity, revenue/profit-sharing and reward-based crowd-funding platform and invoice trading marketplace such as Populous’s proposition, can be a viable and effective source of funding for startups and SMEs. As such, invoice trading has been the fastest growing sector of online alternative business finance within the European Union.

Populous offers access to a very nascent online alternative finance marketplace that allows SMEs to sell their invoices or receivables to individual investors from all around the world at a discount for working capital. Where Populous differs to any current alternative lending platform or traditional institution comes down to its bespoke algorithm, fusing contemporary data science to precisely credit score applicants with innovations in automated settlement via smart contracts secured on the blockchain, while using IXBRL data to generate targeted opportunities.

This has enabled Populous to create an ultra-fluid marketplace, targeting specific SMEs that meet precise lending criteria to mitigate the risk of any delinquency, whilst agile enough to oversee the funding and repayments of any number of participating investors autonomously.

There is no pressure on SMEs to be tied down to exclusivity agreements that formal banking demands and those selling their invoices are not dependent on one lender, but a decentralised network of investors that are being offered access to better returns on investment than retail banking provides.

Self-funded so far by Populous’s CEO, Stephen Williams, Populous has been 24 months in development. The platform should be completed by March 2017 but is currently accepting applications from interested parties for beta testing as the platform debuts live trialing this May 2017.

Populous aims to be fully live and operational in Q2 this year and will be amongst the first working smart contract blockchain based financial services ever created. Certainly the first with a real world business model solving the much needed access to alternative finance for SMEs and a safer more targeted form of investing for individuals looking for assured returns and more attractive yields.