Crowdz Powers Angels Den's Finance Program, Helps SMEs Improve Cash Flow
Mar 10, 2022
SAN JOSE, Calif. - March 10, 2022 - (Newswire.com)
Invoice financing platform Crowdz announced today that it has joined forces with Europe's first and largest angel-led investment platform that connects high growth potential companies with experienced investors, Angels Den Funding.
As part of the partnership, Crowdz will power and finance the Angels Den's Finance Program, which aims to help its network of UK and EU registered startups access the affordable working capital finance.
This program enables small and medium enterprises (SMEs) to sell invoices and other receivables from any customer and receive immediate payment from as little as 1.5% of the invoice value per month. It offers an immediate solution for businesses burdened by long payment terms of 30, 60, or 120 days.
Payson E. Johnston, CEO and co-founder of Crowdz, said: "It's no secret that small and medium enterprises are at the heart of everything we do. So, we are thrilled that fellow tech-driven company Angels Den Funding is also committed to supporting startups and accelerating their growth.
"Similar to our efforts, Angels Den Funding seeks to help early-stage companies access the type of products that are usually exclusive to larger, more sophisticated companies. Together, we're leveling up cash flow opportunities for even more businesses and enabling post-pandemic growth their local economies need," concluded Johnston.
The partnership with Angels Den Funding is part of Crowdz strategy to drive access to working capital for SMEs that impact and power everyday communities. For diverse and minority-owned businesses, this initiative is especially important, given the disparity in access to capital from legacy financial institutions, exacerbated by COVID-19 lockdowns.
To date, Crowdz has financed $46.2 million in receivables, with more than 150,000 cumulative receivables uploaded to the platform.
Crowdz is targeting to fund $1 billion in working capital for SMEs by 2023, bolstered by an aggressive growth roadmap centered around strategic partnerships. To date, this has included the likes of the Meta (formerly Facebook) Invoice Fast Track program, which has already provided many businesses with over $35 million in capital.
CEO Abhilasha Dafria at Angels Den Funding said of the partnership: "Angels Den is excited to partner with Crowdz and be able to roll out the Angels Den Finance program - a new stream of finance to businesses who can leverage working capital to achieve their growth goals. We believe the introduction of low-cost capital that doesn't dilute founders' equity in their company is vital to building the next generation of successful tech companies. Through the Angels Den Finance program, we can help power startups that are better placed to achieve profitability sooner and more sustainably. We believe the future of business financing is a blend of dilutive and non-dilutive growth capital and through this partnership, we are further committing to accelerate the journey of our startups and businesses," said Dafria.
"We look forward to rolling out this new initiative to our community of over 75,000 startups as part of our commitment to help UK & European startups by giving them easy and early access to smart capital."
For more information on Crowdz' collaboration with Angels Den Funding, visit the Crowdz blog here.
- ENDS -
About Crowdz:
Crowdz is modernizing invoice financing and invoicing practices, particularly for small and midsize businesses, to revolutionize the $9 trillion worldwide receivables market.
The platform offers an alternative financing solution for small businesses that often struggle to obtain traditional bank financing. Its technology, which enables small businesses to sell invoices for financing to funders, reduces cash flow bottlenecks and gives small businesses working capital to survive and thrive.
Founded in 2014, Crowdz is headed by its co-founder and CEO, Payson E. Johnston, who served for 18 years as global B2B supply-chain Senior Manager for Cisco. Crowdz has raised $15.5 million from investors including Bold Capital Partners, Barclays Bank, Augment Ventures, Global Cleantech Capital, TFX Ventures, and Techstars Ventures. Crowdz's technologies are covered by three patents and multiple pending patents.
About Angels Den
Angels Den Funding is an online investment platform that combines the UK's largest angel network with an equity crowdfunding platform. The platform makes it easy for angel investors to connect and support heavily-curated, early-stage companies with great potential.
Contact:
Stacey Kirsch
Media Relations Officer
Crowdz
[email protected]
+1-323-553-2372
Press Release Service by Newswire.com
Original Source: Crowdz Powers Angels Den's Finance Program, Helps SMEs Improve Cash Flow
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