Hydr rolls out new invoice finance platform for small businesses
By Megha Bhattacharya
UK FinTech Hydr today 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. It pays 100% of the value of an invoice within 24 hours, minus a competitively priced fixed fee. The FinTech has partnered with global small business platform Xero for seamless integration with its platform.
Nicola Weedall, Co-founder at Hydr said, “The success of a business shouldn’t be determined by its ability to wait for payment. I’ve seen first-hand the transformative impact that managing cash flow has, so we remove the barrier of waiting for payment by paying invoices in full within 24 hours. Our technology securely simplifies the whole process, end to end, with transparency and simplicity at the heart of our proposition.”
Hector Macandrew, Co-founder at Hydr said, “We have created Hydr to change how we think about two things; the almost cultural acceptance that late payments just happen in this economy, and that invoice financing is only considered as a last resort. With Hydr as your partner, you never have to worry about long or late payments again. Invoice financing done properly is a powerful tool to optimise cash flow, enabling business leaders to plan their future with confidence.”
Hydr stated that its digital onboarding process takes minutes. Once connected to Xero, funding decisions are provided in real-time; businesses create their invoice (s) in one simple step, a fixed fee is calculated for the invoice and Hydr takes care of the rest. There are no hidden extras or additional charges to the fixed fee.