Unpaid invoices are a perennial problem for small businesses. According to Accountancy Age, 50,000 British businesses fail each year due to late payments, with SMEs owed over £225bn in unpaid invoices.
Our ambition is to radically change how insurance works, putting financial solutions within reach of all businesses, no matter their size. The crux of our business model is that we develop solutions which can be deployed seamlessly into the tools that SMEs use on a daily basis, such as accounting software, trading marketplaces and banking apps.
For SMEs who depend on predictable cash flows and prompt payments, Hokodo’s offer is a life-saver. With the help of the DueDil API, we are transforming the way SMEs can get access to invoice insurance, this means we can provide SMEs across Europe with quick, hassle-free protection against late and non-payments in real time.
“The client only needs to tap in a few of the invoice details; DueDil’s API does the rest, and the client gets the answer in seconds”, says Hokodo’s Head of Data Science, Arnaud Alepee.
Find out more below.