Monday 26 September 2016

Credebt Exchange puts €10m worth of capital on the line

Published 14/05/2015 | 02:30

"On the one hand Convertibill pays your suppliers. On the other hand it provides hassle free invoice discounting when buying your customer invoice, but without all the usual constraints and frustrations of securing traditional loans".

Credebt Exchange is a fully owned Irish company that formally started trading in July of 2013 and to date has provided trade finance in excess of €35 million using its financial product Convertibill.

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The chief executive, Patrick Reynolds described Convertibill as "flexible, hands-free business finance and invoice discounting.

"On the one hand Convertibill pays your suppliers. On the other hand it provides hassle free invoice discounting when buying your customer invoice, but without all the usual constraints and frustrations of securing traditional loans".

Speaking of the growth of Convertibill, Mr Reynolds describes 2015 as being "all about growth". In that regard "Convertibill™ is targeting €40m-plus worth of trade in 2015 and the Exchange is pledging to have €10m available for suitable applicants at the FundSME event in the RDS on the 28th May".

For Credebt Exchange the importance of a good client relationship and experience is paramount. An important client and user of Convertibill is Martinsen Myer, a recruitment agency specialising in recruitment for jobs in Dublin and Ireland that will be on hand in the RDS on the 28th to present a case study explaining why they use Convertibill.

Commenting on the FundSME initiative, Credebt Exchange welcomes "any event which highlights or draws attention the alternative sources funding that complement traditional bank services".

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