Platform Black

Little bit about them in the MarketInvoice piece in the Other p2p sites. Worth a read

The rates there are always on a 30-day basis, so 100 bp would mean an annual rate of about 11.7% after taking off their fee (if that's what you were seeing). I remember good invoices being bid down to 60-70 bp, but larger invoices would go at up to 150 - 170 bp, seemingly just because of liquidity - the quality didn't seem bad, as far as I could tell, but a minimum bid of 5% of the invoice meant £20,000 plus.

I for one would welcome hearing how you get on.  Good luck! 

Righto

Not much will happen for a week while i'm of on hols but he's my first impressions:

Day 1 - Registration was simple and easy and i quickly received an email telling me when the next training session was.
Training is definitely needed as the PB platform is not a simple intuitive interface
Day 5 - training done. Andrew (i think as the technical director Callum was off ) took the training explaining what all the complex looking interface did. It was excellent but i advise once you have the training get on and have a go otherwise you quickly forget
Day 10 - First bids placed. The invoice system works as a reverse auction so that those who bid at the lowest get the invoices. One thing to watch is that the default is that you bid for 100% of the invoice. Nearly got caught out on that one Each invoice has supporting docs that you can view to ascertain the reality of the bit of paper and if you're happy you can bid. You can also get the credit scores of both parties.
Day 11 - Won one of the bids . I couldn't figure out how to preload any funds into PB and no mention on there site but they emailed at the close of business to let me know. This one i'll call Invoice A and refer to it as when it comes in. 
Day 12 - Nothing exciting on there today i think they are having a slow day
Day 27 - 3 new bids placed. Lets see if i win any. My floor is 1% (per 30 days) - Update. Lost them - dropped my rate to 0.95% now 
Day 40 - Invoice A repaid early. I seem to have been credited the 2 months interest though.
Day 42 - 3 new bids placed i like to go for ones that have a PO as well as invoice, delivery received note is also a bonus. Otherwise not too picky!

Invoice A
So Invoice A was for just 5% of a total invoice value. The rate i got was at about 12.6% APR its only for 60 days though so 2.10% expected. PB will take 10% of that as their fee. Not too bad. Larger and longer invoices pay higher still.

My gut feeling at the moment is that its a lot of trust to place in a piece of paper (albeit with supporting docs and credit scores) we'll see.

/beastie

Interface is truly awful . But i don't mind that as long as the returns aren't :-)

Anyway back from hols so just placed 3 new bids and updated my post above

/beastie