How the Service Works
PeerPay Ltd performs an administrative function in maintaining the FloFunder platform which matches approved sellers looking for cash flow funding with businesses and individual sophisticated funders and in facilitating payments, collection of sums due and onward distribution of funds via the Platform.
The platform can only be used for approved invoice financing and cannot be used for commercial loans.
The service matches approved invoices against a pool of buyers (funders) meeting the return and risk criteria. Once funds are committed, the platform operates as an automated tool. The base rules of the automated engine are
- No more than the maximum percentage in any one invoice, with risk spread across as many funders that meet the matching criteria.
- Participate in every invoice that meets the criteria sufficient funds available.
- Invoices that fail to attract the minimum number of funders set by the Accounting Practice based on the risk criteria will not be approved.
- Only “approved” invoices can be submitted to the engine