31 March 2021
Fast after clinching the 8th spot in the line-up of 1000 fastest growing companies in Europe released on March 22nd by the Financial Times, PwC has announced that Crossflow joins a select group of financial technology (FinTech) companies from across the EU selected for their 2021 Scale | FinTech programme.
Crossflow was selected from applications across the EU after a rigorous evaluation process. The selected PWC Scale participants benefit from an extensive programme to help elevate their profiles, identify commercial opportunities and accelerate their growth. The programme is complemented with exposure to PwC's client network, that will enable the fast-growing FinTechs to connect with established financial services organisations.
A fintech company with a difference, Crossflow offers technology solutions for supply chain finance utilising a sustainable strategy and its own robust technology. The company’s primary objective is to connect corporates and their suppliers to global funding institutions. Working in tandem with these global banks, alternative investment funds and family offices, Crossflow delivers fast, flexible working capital finance powered by its cutting edge technology and global legal framework.
This is supported by industry leading levels of transparency giving funders confidence that the transactions they finance can be viewed anytime on the Crossflow service. In addition, Crossflows InvoiceProtect™ technology ensures the veracity of transactions avoiding risk of fraud.
Technology solutions from Crossflow connect vendors to a global pool of institutional working capital, and Vendors can also extend the solution to their own vendors to ensure a full cascade of working capital benefits through the entire supply chain. Managed by Crossflow, vender rollouts are usually completed within 30 days. As a result of Crossflow’s extensive legal framework, the service is deployable globally.
“With a covid driven €1.3 Trillion working capital gap in Europe the need for Crossflow as a secure, transparent SCF service, could not be more urgent. We are really pleased that PWC have, following a rigorous evaluation process, selected Crossflow to join the 2021 Scale | FinTech programme and have the opportunity to refine our company even further and to connect with the PWC network.” Commented Crossflow’s founder and CEO Tony Duggan.
About Crossflow Payments
Crossflow Payments is a technology driven alternative finance platform delivering an innovative supply chain finance solution to large corporates and their suppliers. Its unique payment platform improves working capital for businesses whilst providing suppliers with access to finance against without the need for onerous personal guarantees. Crossflow is backed by a range of sophisticated institutional investors providing significant firepower, enabling it to play a crucial role in helping businesses seize opportunities for growth. The business is an effective industry ambassador setting voluntary standards on a range of issues including cyber security, funds segregation, payment authentication and Crossflows InvoiceProtect™ minimising the risk of fraudulent transactions
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