By: 3 April 2024

The partnership will allow Finyoz users to deliver solutions in multiple currencies

Finyoz and Currencycloud to deliver supply chain solutions

Finyoz and Currencycloud have announced a partnership to deliver supply chain financing for companies and investors.

Finyoz, a German lendtech organisation, matches companies that need short-term invoice financing options with private and corporate treasury investors. The lendtech has developed an automated online platform where companies can upload invoices and display financing fees. It also allows easy communication with a company’s debtor. Investors can then allocate funds between 14 to 90 days and receive interest payments over the period.

The partnership with Currencycloud will allow Finyoz investors to collect funds in the preferred currency of the investor, before converting it to the preferred currency of the borrower. The multi-currency experts will also enable Finyoz investors to hold cash in a digital wallet and deploy it across various funds.

Finyoz’s corporate treasury clients will also be able to tap into Currencycloud’s global ecosystem, improving payment cycles and international foreign currency transfers.

Thorsten de Jong, cheif executive officer of Finyoz Deutschland GmBH, said: “Currencycloud has been a dream partner on this deal. They combine state-of-the-art technology with robust security credentials. They’ve been professional and dedicated throughout.

“Most importantly, they realised there was no easy blueprint for this business model – we’re doing something genuinely innovative, and that requires building things from scratch”.

Piers Marais, head of product of Currencycloud, said: “Supply chain financing is an area that’s ripe for disruption, and Finyoz is one of the most exciting teams in the business. The team has an excellent vision and fully understands the needs of their two most important stakeholders: investors and businesses in need of finance.

“We’re so pleased to be on this growth journey with them and look forward to continuing to deliver new and innovative products and services to their clients”.

Images: Finyoz, Currencycloud

Robert Welbourn
Robert Welbourn is a content editor at FinTech Intel.