NoviCap, founded in 2014, is the first customer-centric, fully digital invoice finance solution. It is the answer to traditional factoring companies who are known for using aggressive sales tactics, charging high costs and hiding conditions in small letters. Because they do not leverage technology efficiently, they have extremely large, high operational costs. NoviCap simplifies the process of invoice financing, with the goal to provide companies with suitable financing while avoiding lengthy application processes from banks and other financial institutions.
By removing inefficiencies that are characteristic of traditional factoring companies, NoviCap has become an easy-to-use service that aims to revolutionise the way companies receive financing so they can focus on what they are best at.
The company enables SMEs to sell outstanding invoices to a third party at a discount and improve their cash flow. SMEs can access working capital in a fast and flexible way because of NoviCap’s intuitive front end, automated onboarding, and ability to make real-time credit decisions. NoviCap’s back-office runs at significantly lower overhead because of advanced automation in client onboarding, data ingestion, and credit scoring and monitoring.
About the founders/CEO:
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NoviCap was founded by Federico Travella (CEO), ex-managing director for Rocket Internet SE; Marc Antoni Macià (COO) ex-business strategy director for Westwing and founder of Palila; and Nicolas Overloop (CTO), first engineer at Geckoboard with a great experience in building marketplaces.
Marc was a young entrepreneur who was having difficulties to find funding for his business. He had big clients, with big invoices. The problem was that they paid late.
During the summer of his second year in business, he met Federico at the Young Talent Program (YTP) at IESE Business School and they both started digging in on the problem Marc was having. They saw a great opportunity to help SMEs get funding. Nicolas joined the adventure and they`re currently present in the UK, Spain and The Netherlands.