|
Post by kristjan on Feb 5, 2018 11:46:02 GMT
Invoice discounting (United Kingdom)- month volume: £516,000
- historical annualised return: 12.77%
- average duration: 40 days
- overdue rate*: 0.00%
- default rate*: 1.32%
out of that**: - recovered: 90.60%
- written off: 0.01%
Invoice discounting (Estonia)- month volume: €890,000
- historical annualised return: 10.40%
- average duration: 35 days
- overdue rate*: 0.43%
- default rate*: 3.37%
out of that**: - recovered: 10.20%
- written off: 0.00%
* When an invoice is fully or partially overdue more than 45 days, the outstanding amount is counted as overdue. If more than 120 days have passed since the payment date, the outstanding amount is counted as defaulted. The share of defaulted invoices that have been repaid are marked recovered. Debts that cannot be recovered are written off. **Amounts that are not yet recovered or written off are being collected on.
|
|
|
Post by kristjan on Feb 5, 2018 9:54:06 GMT
European fintech Investly launched their fundraising campaign on Seedrs, Europe’s most active investor into private companies. They plan to raise at least £500,000 to finance integrations with banking partners to improve access to working capital for their SME customers. Investly helps small and medium-sized companies release cash from invoices with long payment terms. The new Payment Services Directive (PSD2), that started rolling out in the UK and the rest of the EU earlier this month, is a key enabler of the bank partnerships that Investly believes will drive the growth of the business. Open Banking is both the imperative and opportunity for banks to collaborate with nimbler partners like Investly. Investly started preparing in spring 2017 to make the most of the opportunity presented by PSD2. In summer, Nesta, the leading UK innovation charity, ran the Open Up Challenge for fintechs looking into Open Banking. Investly was selected as one of the 20 startups to receive a grant of £50k to fund the research and development in this area. Investly has completed the technological preparation stage for integrating with the UK’s top five banks: Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander. In parallel, commercial negotiations are progressing with two leading Nordic banks. Following the initiation of this partner-focused strategy, Investly strengthened its core management team. In December they welcomed senior fintech operator Calum Cameron as the COO of Investly. Cameron has experience scaling operations with early stage companies in the UK and EU and led of one of Europe’s leading B2B business accelerators, Startup Wise Guys. He has also led technology teams in ABN Amro, BNP Paribas, Fuijitsu and the Royal Bank of Scotland. According to Investly CEO Siim Maivel, “The PSD2 framework creates an exceptional opportunity and environment for cooperation between fintechs and banks. Banks must now enable customers to share their banking records with other financial services providers. The customer keeps control by only sharing what they want, with whom they want, and only when they explicitly choose to do so. This is a new era for banks, so they’re interested in developing strategic partners in every possible business niche to ensure they maintain their place in the new supply chain. Our aim is to become one of these invaluable partners, which would enable us to significantly increase our business volumes whilst providing their SME customers a flexible product within their bank. We are delighted that Calum has joined us to help realise this vision, and we look forward to taking the business to the next phase of its journey with this investment round on Seedrs.” Funding from the Seedrs round will be used primarily to accelerate partnerships and integrations with banks. Investors from earlier rounds include the international risk capital fund Speedinvest, which has also invested in fintechs such as Holvi, n26, Curve, Loot and Iyzico. Find out more on the Seedrs campaign page
|
|
|
Post by kristjan on Jan 8, 2018 7:48:45 GMT
Based on current indications from our customers, we expect another jump in volume in the UK. Investors who would like to increase their portfolio are encouraged to deposit funds straight away so they can take part in the auctions. UK volumes are expected to eclipse Estonian volumes in the first half of the year. Last month we closed the case on two defaulted invoices - one in Estonia (penalties still due) and another one in the UK (fully recovered). We continue to work on improving the collection processes. We're in the final rounds of hiring an in-house legal expert to help speed collection procedures along. Currently there is still one outstanding default in the UK, we are receiving weekly/biweekly partial payments and expect the debt to be cleared in the first quarter. A full recovery there would also mean a perfect recovery score for defaulted invoices in the UK. Invoice discounting (United Kingdom)
- month volume: £389,000
- historical annualised return: 12.61%
- average duration: 39 days
- overdue rate*: 0.00%
- default rate*: 1.51%
- recovered: 88.7%
- writeoffs: 0.00%
Invoice discounting (Estonia)
- month volume: €868,000
- historical annualised return: 11.19%
- average duration: 35 days
- overdue rate*: 2.01%
- default rate*: 1.60%
- recovered: 18.2%
- writeoffs: 0.00%
* When an invoice is fully or partially overdue more than 45 days, the outstanding amount is counted as overdue. If more than 120 days have passed since the payment date, the outstanding amount is counted as defaulted. If a defaulted invoice is paid, it is considered recovered 100% (the rest will be written off if the collection is deemed unlikely).
|
|
|
Post by kristjan on Dec 27, 2017 9:12:41 GMT
A new feature is available - you can now set your maximum risk per buyer. Our developers pushed this feature live just before Christmas. You can set a separate limit for buyers in each credit group.
Buyer limit – the maximum exposure of your portfolio to the same buyer
Credit risk per buyer limits your exposure to buyers. For example, if your bid size is 200 euros per invoice and your credit risk per buyer is 400 euros and your portfolio is empty, the autobidder can make a maximum of two 200 euro bids for an invoice issued to one buyer. No further bids will be placed until the invoice is paid back. Once the invoice is paid back and your exposure to the buyer falls below your maximum limit, new bids can be made until your limit is reached. This setting will not prevent you from making additional bids manually. However, bids placed manually will prevent the autobidder from taking on additional risk against the same buyer.
If you have limited your risk per buyer but would like to participate in selected companies’ invoices, you can do so by placing bids manually. Although most invoices are sold automatically, for larger invoices we send out e-mail notifications. To make sure you receive them, please make sure you are subscribed to our e-mails (if you’re not sure, contact us).
|
|
|
Post by kristjan on Dec 27, 2017 9:12:07 GMT
A development which would limit the risk against a particular debtor is in the plans. I'm hopeful we can get this done in the near future. Our developers pushed this feature live just before Christmas. You can set a separate limit for buyers in each credit group. Buyer limit – the maximum exposure of your portfolio to the same buyer Credit risk per buyer limits your exposure to buyers. For example, if your bid size is 200 euros per invoice and your credit risk per buyer is 400 euros and your portfolio is empty, the autobidder can make a maximum of two 200 euro bids for an invoice issued to one buyer. No further bids will be placed until the invoice is paid back. Once the invoice is paid back and your exposure to the buyer falls below your maximum limit, new bids can be made until your limit is reached. This setting will not prevent you from making additional bids manually. However, bids placed manually will prevent the autobidder from taking on additional risk against the same buyer. If you have limited your risk per buyer but would like to participate in selected companies’ invoices, you can do so by placing bids manually. Although most invoices are sold automatically, for larger invoices we send out e-mail notifications. To make sure you receive them, please make sure you are subscribed to our e-mails (if you’re not sure, contact us).
|
|
|
Post by kristjan on Dec 27, 2017 9:08:17 GMT
Anyone else having significant drag with € deal flow? £ seems fine, but despite adding a new € partner about half of my funds have been idle for ~2 weeks. The euro market is seeing fluctuations from month to month, the quarterly figures show an increase. The UK market is more active in terms of growth. Investor who wish to deposit pounds from their existing euro account at Investly are welcome to do so by sending an e-mail to support@investly.co
|
|
|
Post by kristjan on Dec 27, 2017 9:06:17 GMT
Is the platform still alive? No statistics posted since Jan, couldn't find anything also on website My apologies! We're active and growing fast in the UK and somewhat slower in Estonia. I'll bring back the updates.
|
|
|
Post by kristjan on Nov 28, 2017 12:26:34 GMT
A development which would limit the risk against a particular debtor is in the plans. I'm hopeful we can get this done in the near future. I had a meeting with the head of the tech team and we agreed to launch the risk limiter in December. Important update:
I have started collecting feedback from investors regarding their experience, expecially regarding communication. I would like to get your view on the positives and negatives. I will collate the feedback, discuss it with the team and find the best solutions to implement. I'm moving forward with a few solutions already, based on feedback we've received in the last couple of weeks. I will be giving an overview of the upcoming changes as soon as we've put in place an action plan. If you have some actionable suggestions, we would be happy to hear about them. Please write to me directly on kristjan[at]investly[dot]co so that I can gather all the feedback into one place. Thank you! PS. I will be away from 30.11 until 14.12. This should give investors enough time to gather their thoughts and put them on paper. Regards, Kristjan Velbri CFO
|
|
|
Investly
Defaults
Nov 28, 2017 12:21:50 GMT
Post by kristjan on Nov 28, 2017 12:21:50 GMT
Pleased to see M****n C*****l loan complete and progress on collecting on a couple of others. Keep up the good work, Investly! Thank you! I'll pass your kind words over to our collection people. A few updates:We're also close to resolving the UK export invoice. Most of the funds have already been recovered and we're confident we can close that case within the year. Our team and our lawyers are working to ensure the full recovery of all overdue invoices. We're also moving forward with hiring an in-house lawyer to further improve and speed up collection processes. I have started collecting feedback from investors regarding their experience, expecially regarding communication. I would like to get your view on the positives and negatives. I will collate the feedback, discuss it with the team and find the best solutions to implement. I'm moving forward with a few solutions already, based on feedback we've received in the last couple of weeks. I will be giving an overview of the upcoming changes as soon as we've put in place an action plan. If you have some actionable suggestions, we would be happy to hear about them. Please write to me directly on kristjan[at]investly[dot]co so that I can gather all the feedback into one place. Thank you! PS. I will be away from 30.11 until 14.12. This should give investors enough time to gather their thoughts and put them on paper. Regards, Kristjan Velbri CFO
|
|
|
Post by kristjan on Nov 20, 2017 8:03:03 GMT
A development which would limit the risk against a particular debtor is in the plans. I'm hopeful we can get this done in the near future.
|
|
|
Post by kristjan on Nov 17, 2017 9:45:49 GMT
In all of these cases the recovery is likely to result in full of at least siginificant recovery. If and when recovery is no longer probable, the invoices are marked as written off. At this point in time it is early to claim that every invoice that is late should be written off. I will look into the data and analyze the results to determine whether there is something we need to change. Thank you for your feedback.
|
|
|
Investly
Defaults
Nov 16, 2017 8:50:10 GMT
Post by kristjan on Nov 16, 2017 8:50:10 GMT
Oops, taken my eye off the ball and it looks like my defaults exceed interest earned. I cannot find the credit rating for the defaulted loans (to see if tweaking my autolend is worthwhile). My dashboard is telling me I'm in profit ("Return based on paid invoices") so I think the platform has the sweet smell of Bondora about it, ie lets fool the investor. Tell me I'm wrong please kristjan Please note that invoices which are marked defaulted refer to invoices that are more than 120 days overdue. In these cases, the collection process is still ongoing and there is no reason to mark those as losses. After collection procedures have been finalised, the invoice can either recover fully, recover partially or be written off (a partial recovery is currently marked as written off in the portfolio, because a portion of the invoice was not recovered, refer to the collection history for more detailed information on each particular invoice). Collecting overdue debt does take time. We do our best to help the process along and ensure funds are recovered.
|
|
|
Post by kristjan on Nov 16, 2017 8:49:59 GMT
I've just worked out that the autobidder (which allows us to set investment amounts - including zero, and rates for each of 5 credit ratings, is based on the credit rating of the buyer). This makes no sense at all. As the debt reverts to the seller if unpaid it's the seller's credit rating that concerns us. As things stand I AM MAKING LOSSES. Interest earned 44, defaulted loans 130 (ok these aren't yet write offs and could be recovered) , overdue 70 kristjan please explain, or better, please change it. Please note that invoices which are marked defaulted refer to invoices that are more than 120 days overdue. In these cases, the collection process is still ongoing and there is no reason to mark those as losses. After collection procedures have been finalised, the invoice can either recover fully, recover partially or be written off (a partial recovery is currently marked as written off in the portfolio, because a portion of the invoice was not recovered, refer to the collection history for more detailed information on each particular invoice). Collecting overdue debt does take time. We do our best to help the process along and ensure funds are recovered. The fact that the autobidder bases its decisions on the debtor's credit rating is stated on the autobidder page. Investors' credit risk is against the debtor. The debt does revert to the seller if the invoice is unpaid. Investly still retains the contractual right to ask for payment from the debtor, the final repayment may be made in combination from payments from the debtor and the seller. An overwhelming majority of invoices never reach the stage where a buyback would be warranted.
|
|
|
Post by kristjan on Aug 4, 2017 11:12:56 GMT
Is this link still on the site. Can't seem to see it? I'm sorry, at the moment it's not available and I will provide those documents manually. Please let me know by sending an e-mail to support@investly.co and we will take care of it. Thank you!
|
|
|
Post by kristjan on Aug 4, 2017 10:55:24 GMT
Currently we do not have an update yet. The courts have their summer vacations, much like the rest of the public sector, and this has slowed progress somewhat. We will post new information as soon as we get it. Thank you for your patience.
|
|