back Back

Hydr develops an invoice finance platform to integrate with cloud accounting software providers

By Joy Dumasia

January 13, 2022

  • Cloud Accounting
  • Europe
  • FinTech
Share

FinTech start-up, Hydr, has developed its proprietary invoice finance platform to integrate with more major cloud accounting software providers, including Sage and QuickBooks. After launching exclusively with Xero in May, the Hydr platform can now be accessed by millions more SMEs in the UK who want to leverage their unpaid invoices to optimise cash flow and help fuel their growth. 

Users of Sage, FreeAgent, KashFlow, QuickBooks and Xero who sign up with Hydr can get paid almost immediately for the work they have completed and invoiced, rather than waiting out extended payment terms and even having to consider extending their borrowings to maintain working capital. 

Customers who link their account to the Hydr platform can expect a class-leading, seamless integration. No duplication of data is needed, they continue to raise their invoices with their cloud accounting provider as usual, and Hydr will do the rest, funding approved invoices within 24 hours. 

Hydr Co-Founder Nicola Weedall said: “We’re so pleased to have achieved this product milestone. The impact of long payment terms and late payments is affecting millions of small businesses in the UK; many are navigating CBILS repayments and ramping up post-Covid trading, which can put a strain on working capital. We feel so strongly that getting paid early is the best way of optimising cash flow, far better than extending borrowings.” 

Hydr Co-Founder Hector Macandrew said: “Invoice finance in years gone by has often been complicated and time-consuming to apply for, complex to manage and opaque in pricing. It is absolutely ripe for disruption, and cloud accounting and open banking has made this reinvention achievable. With our simple, transparent and fairly priced proposition, it is now more accessible and attractive to small businesses than ever. We encourage more businesses to consider it.”

IBS Intelligence reported that UK FinTech Hydr announced the launch of its proprietary invoice finance platform to help small businesses optimise their cash flow. Hydr helps small businesses manage their cash flow with fully digital onboarding, funding decisions in real-time, transparent terms and fixed fees.

Previous Article

January 13, 2022

YES BANK to cut greenhouse gas emissions to net zero by 2030

Read More
Next Article

January 13, 2022

FPL Technologies raises $75m in Series C funding

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

Cloud Accounting

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024

Viva.com activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023