Finturi Receives Approval To Launch Blockchain Invoice Finance Platform In The Netherlands

Blockchain, News, Regulation | April 6, 2020 By:

Blockchain-based invoice finance platform Finturi has received regulatory approval from the Dutch Authority of Financial Markets (AFM).

Founded in September 2018, Finturi aims to help businesses finance invoices by linking them with financiers to borrow money against invoices, using blockchain and artificial intelligence (AI). Finturi launched its beta platform in Q3 2019. It has operated its beta platform in a controlled environment testing with a few selected businesses and financiers in the Netherlands for the past few months.

The regulatory approval from the AFM means that Finturi will now be able to offer its platform to all the businesses registered with the Dutch chamber of commerce. Businesses can directly register on the Finturi platform. However, Finturi said that to mitigate the risk from the financing side, businesses will have to come to the Finturi platform via their accountants or financial advisors to access the platform.

“Finturi has been granted an exemption from AFM to operate its platform in the Dutch market”, Johannes Brouwer, CEO, Finturi said. “Small and Medium-sized businesses are very critical to the Dutch economy. Often, these businesses face problems raise working capital. We are very excited to make Finturi generally available in the Dutch market especially during these uncertain times when businesses need capital more than ever. We believe we can provide businesses a loan against the invoice within 24 hours at the best interest rates.”