Invox Finance Overview

The Invox Finance platform is a distributed peer-to-peer invoice loan platform that will allow sellers, buyers, investors, and other service providers to connect, interact, share and distribute information.

The platform will facilitate ecological systems where trust between the parties is developed through an unused reward system. The execution of transactions and the flow of information does not depend on a single centralized service provider but is governed by a set of transparent rules implemented on a fully distributed ledger. This will further increase the trust of all parties in each other as well as continue the completion of each invoice loan transaction. Furthermore, the Invox Finance Platform will provide sellers (who want to borrow funds against their invoices) direct access to individual investors. This peer-to-peer lending environment will benefit both sellers and investors. The seller will be able to obtain financing at a lower interest rate than received from the financier. Investors will be given access to investment products that are mostly currently only available to banks and finance companies.

Invox vs. Populous and other Peer-to-Peer platforms

Most peer-to-peer invoicing finance platforms use a centralized structure. All of these platforms basically connect invoice vendors and investors in an online environment. Unlike this centralized solution, both Populous and Invox Finance are looking for future blockchain to solve current invoicing issues. Invox Finance greatly respects the goals to be achieved by the Populous team. The current invoiced financing environment requires disruption. Both Invox Finance and Populous are at the forefront of this annoyance. However, there are some major differences highlighted on this page between Populous and Invox.

Platform Populous and Invox Finance Platform

  1. While the Populous platform connects invoice sellers with investors, it does not involve key players, buyers of goods and services. The Invox Finance platform will connect sellers, investors, and buyers on a single platform, as well as third-party service providers (such as credit rating agencies and debtor insurance companies). It’s important that buyers of goods and services connect to the platform and be able to verify invoices and have access to dynamic invoice data. The buyer will also be rewarded with an Invox Token to verify the invoice.
  2. The invoice uploaded to the Populous platform is a paper-based invoice that makes it “static”. The Invox Finance platform will incorporate a series of Dynamic Billing Intelligent Contracts. This will allow creation and registration of Dynamic Invoices in full digital format (ultimately eliminating the need for paper-based invoices). There are many advantages of creating and enrolling invoices on Dynamic Invoice Contracts, such as no central authority to control, host or potentially manipulate data. Once implemented, business practices are known to all network participants and can not be changed.
  3. The Populous platform requires investors to bid each other at auction to fund invoices. The Invox Finance platform will give all investors equal access to a large number of sellers based on investor risk preferences. This eliminates the need for investors to mutually weaken each other in the auction environment.
  4. Populous require investors to join together in groups if they can not finance larger invoices. The Invox Finance platform will divide each loan into fragments allowing investors to invest into a large number of loans (with different risk profiles) to minimize their risk and maximize their return on investment. Also, by breaking down each loan, we will be able to create loan products tailored to various risk profiles and offer them to investors based on their chosen risk profile.
  1. Populous was established in 2017. Two of the founders of Invox Finance Platform create and run ABR Finance Pty Ltd – an invoice financing company that has been in operation since 2012. ABR Finance has successfully funded many small to medium-sized businesses in Australia. Alex Mezhvinsky who is one of the founders of the Invox Finance Platform is the Managing Director of ABR Finance Pty Ltd and has extensive engineering, legal, financial, and management experience.

Conclusion

The Invox Finance platform is in line with expectations of modern invoice financing, different from the Populous platform that still uses traditional facilities using paper-based invoices, Populous platform connects invoice sellers with investors, it does not involve key players, buyers of goods and services, the Populous Platform requires investors to bid each other at auction to fund invoices, Populous requires investors to join in groups if they can not finance invoices larger, and Populous was established in 2017. Two of the founders of Invox Finance Platform create and run ABR Finance Pty Ltd – an invoice financing company that has been in operation since 2012.

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