A proprietary bill finance platform to assist small companies optimise their money circulation has been introduced by Manchester-based fintech start-up Hydr.
Co-founded by fintech specialists with first-hand expertise of the challenges that lengthy cost phrases and late funds can create, Nicola Weedall and Hector Macandrew are on a mission to deal with poor cost tradition within the UK.
The impression of lengthy cost phrases and late funds is being felt now greater than ever; 62% of all SMEs are experiencing both a rise in late funds or funds frozen fully on account of covid-19.
Hydr (pronounced Hello-der) helps small companies handle their money circulation with absolutely digital onboarding, funding selections in real-time, clear phrases and glued charges. It pays 100% of the worth of an bill inside 24 hours, minus a competitively priced fastened payment.
Hydr’s specialists combine with its purchasers’ finance group and construct robust relationships with their clients. Hydr has partnered with international small enterprise platform Xero for seamless integration with its platform.
Nicola Weedall, Co-founder at Hydr says, “The success of a enterprise shouldn’t be decided by its means to attend for cost. I’ve seen first-hand the transformative impression that managing money circulation has, so we take away the barrier of ready for cost by paying invoices in full inside 24 hours. Our expertise securely simplifies the entire course of, finish to finish, with transparency and ease on the coronary heart of our proposition.”
Hector Macandrew, Co-founder at Hydr says, “We have now created Hydr to alter how we take into consideration two issues; the virtually cultural acceptance that late funds simply occur on this economic system, and that bill financing is simply thought of as a final resort. With Hydr as your accomplice, you by no means have to fret about lengthy or late funds once more. Bill financing executed correctly is a strong instrument to optimise money circulation, enabling enterprise leaders to plan their future with confidence.”
Hydr’s digital onboarding course of takes minutes. As soon as related to Xero, funding selections are offered in real-time; companies create their bill (s) in a single easy step, a hard and fast payment is calculated for the bill and Hydr takes care of the remainder. There are by no means any hidden extras or further costs to the fastened payment.