Liestal – With the launch of the online marketplace KMUcash, Basellandschaftliche Kantonalbank now offers small and medium-sized enterprises the opportunity to pre-finance outstanding invoices by investors.
Small and medium-sized enterprises (SME, or in German KMU) can upload their outstanding invoices onto KMUcash and specify the desired conditions for pre-financing them, according to a statement from Basellandschaftlichen Kantonalbank (BLKB). The bank has been working together on the new service with Advanon, a start-up active in the fintech sector. Advanon reviews the invoices and searches for potential investors.
“For SMEs, liquidity is the air that they breathe. BLKB is aware of this and is therefore expanding the financing framework for SMEs in an innovative and digital manner with Advanon. Thanks to KMUcash, companies can manage their liquidity situation in line with their sales development and under transparent conditions,” said BLKB board member Daniel Brändlin.
Advanon specialises in liquidity planning for SMEs and connects invoice vendors and investors directly, said CEO Phil Lojacono. BLKB’s proximity to customers, soundness and security are key aspects of the collaboration. With the launch of KMUcash, the bank continues to implement its strategy to take advantage of the opportunities in digitalisation.