Decentralized invoice financing platform
Price on ICO
Apr. 15, 2018
May. 14, 2018
20,000 ETH ~ $17m USD
1 INVOX = 0.0001 ETH
ICO is over
Invox Finance Platform is building a decentralized P2P solution connecting three main parties: sellers, buyers and investors. Drawbacks of Traditional Invoice Financing include, for example, invalid invoices, high legal costs, disputes, and cases of defrauding investors. Investors don’t have a relationship with buyers and only have the information provided by sellers who are interested in brightening up the real situation. This exposes investors to a considerable risk, and they in return toughen their terms accordingly. Invox Finance Platform is aiming to eliminate these disadvantages by making the situation transparent and confident for all the parties. Sellers will get faster payments and cash flow, investors will be able to search for more profitable trades and diversify their investments, and buyers will get extended invoice payment periods and will be rewarded for verifying invoices.
First of all, Invox Finance Platform is going to launch the platform in Australia and New Zealand, then the USA, Singapore, UK, France, Germany, and then the Netherlands, Poland, and Russia.
Their token based on the ERC-20 standard and called Invox will be used to access the platform through a Trusted Member Program, and to reward platform users in two ways – the buyers will be rewarded for invoice verification and both the buyers and sellers will be rewarded once the invoice has been paid.
Token distribution: 45% – marketing, 20% – investment fund, 19% – system development, 1% – miscellaneous.
The team consists of 8 specialists who have experience running ABR Finance Pty Ltd, an Australian invoice financing company. Since 2012 ABR has helped with about $30 million AUD in invoicing in a variety of industries including IT, construction, transport, engineering, and others. The team and three co-founders of Invox Finance Platform – Alex Mezhvinsky, Adam Mezhvinsky, and Daniel Tang – are investing their own capital into the project and will have seeded $500,000+ AUD by the completion of the ICO. The advisors team consists of 9 specialists in investments, legal, marketing, cryptocurrency, and tokenization.
The current size of the global invoice financing market is estimated at $2.85 trillion USD. If the project have even moderate success, the possible profitability for investors is very positive. The desire of the team to invest own money into the project shows their fair intention professionalism in developing the business. We see their main challenge in spreading the business outside Australia to become a really world-wide company.
A project bringing transparency into the invoice financing and aiming to resolve most of the current problems in the industry.
Invox Finance Pty Ltd was founded by members of the ABR Finance Pty Ltd team, a successful invoice nancing company based in Australia. As our team is currently undergoing an expansion phase, please visit our website (www.invox nance.io) for the most up to date information on our team.
Traditional invoice nancing is based on a nancier purchasing invoices from the seller.1 In return, the nancier agrees to advance monies to the seller against each invoice. The buyer2 who purchased the seller’s products must pay the invoices directly to the nancier.
The key issue with traditional invoice nancing is that the nancier purchasing an invoice from the seller and advancing the funds against it does not have a direct relationship with the buyer. The nancier solely trusts the information provided by the seller. As a result, the relationship between the seller and the buyer is not completely transparent to the nancier, and therefore exposes the nancier to a considerable risk of the invoice not being paid as agreed or disputed.
The Invox Finance Platform is a decentralised peer-to-peer invoice lending platform that will allow sellers, buyers, investors and other service providers to directly connect, interact, share and distribute information. The platform aims to create a trusting environment by facilitating transparency between parties and rewarding performance.
This platform will disrupt and revolutionise traditional invoice nancing by implementing a system where trust and transparency between all parties is developed through an in-built reward system. In addition, the execution of transactions and ow of information will not be dependent on one single centralised service provider, but instead governed by a transparent set of rules executed on a fully distributed ledger.
No, the user interface on the Invox Finance Platform will create
a seamless user experience. In particular, the user interface will allow for all payments to be made in at currencies by utilising our banking partners’ API.
We are raising funds to develop the system, market the service and build a community. The founding team will have invested over $500,000 AUD in cash at the completion of the ICO. Invox Finance intends to offer Invox Tokens to institutional and retail investors to help fund the evolution of invoice nancing. You can also get involved by joining the Invox Finance community and participate in bounty programs.
Invox Tokens will entitle its holders to access the Invox Finance Platform through the Trusted Member Program.1 By participating in the Invox Finance two stage ICO, you will be provided with the opportunity to acquire Invox Tokens at a discount.
The ICO is being run in two parts with a bonus system rewarding participants in the pre-ICO as well as during the ICO itself. For more information visit www.invox nance.io.
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