When the seller requests funding for a particular invoice, Invox Finance Platform will automatically request the buyer to verify that the goods and/or services have been delivered and that the information contained within the invoice is correct, and that it is due and payable directly through the Invox Finance Platform. Upon verification, the Invox Finance loan fragmentation algorithm will match investors to the requested invoice loan.
To participate in invoice financing on the Invox Finance Platform, an investor will deposit fiat funds into an interest bearing trust account held with an independent financial institution (“trust account”). The investor will then be able to allocate a specific amount of funds to various risk rated lending facilities (suggested by the Invox Finance Platform). For example, in Australia, an investor will be able to deposit $1,000,000 AUD into a trust account with an Australian bank. The investor will then be able to allocate $500,000 AUD to a higher risk profile invoice lending facilities and $500,000 AUD into a lower risk profile lending facilities. Other risk profiles will attract higher interest rates but may also have a higher default rate.Investors will be able to allocate certain portions of their investment portfolio to various risk and investment profiles to create a return on investment which matches their individual goals.
Invox Tokens will be created on a public ledger using the ERC-20 standard and will have the following utility: – will provide access to the Invox Finance Platform for the sellers. That is, each Seller will be required to pay a certain amount of Invox Tokens on a yearly basis to gain access to the platform; and – reward work performed for the platform. That is, the system will reward buyers and sellers with Invox Tokens for verification and payment of invoices.
How Invox Finance will disrupt and revolutionise traditional Invoice Financing. We plan to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed peerto-peer lending platform called the Invox Finance Platform. This platform will completely eliminate the need for a traditional financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices (“sellers”), directly with investors¹ who wish to finance these invoices.