Stockholm based fintech company Invoier continues to challenge the financing market with the purpose of creating better financial conditions for SMEs. The company is now launching a new index that identifies how well Swedish companies are at paying their invoices on time. The first report displays a break in the trend where larger companies pay on time early 2022, for the first time since 2016.
We exist to improve the financial conditions for small and medium-sized companies and believe an index that follow up on actual payment behaviour is crucial and therefore we are happy to be the first to introduce it. Invoier Payment Time Index is a measurement of the payment moral and payment times from larger companies simply has to be shortened if we are to be able to release the growth potential of Swedish SMEs.
Fredrik Mistander, CEO & Co-Founder Invoier
March 1 2022, the Swedish parliament legislated on a new, obligatory reporting of payment times from companies with 250 or more employees. The reporting requirements specifies that these companies will have to state contracted, as well as actual, payment time and the share of invoices which are paid after maturity date. This will all be accounted for separated by supplier company size (0-9 employees, 10-49 or 50-249). All reported data will be made publicly available.
This is a really good sign and also one verified by an analysis. The fact that large companies are starting to move towards a higher moral is very positive and will enable for all the smaller companies to 'survive' in times of war and concerns after the Covid pandemic.
Fredrik Sidahl, CEO FKG/Fordonskomponentgruppen
Invoier has developed Sweden's only market place for invoices. The company's purpose is to improve the financial conditions for small and medium-sized companies and promote transparency and access to fair and competitive capital. The market place enables market adjusted pricing for SME financing and growth, as well as introducing a new asset class to investors. Invoier was chosen out of 4 000 companies for the Invoier was chosen out of 4 000 companies for the EU innovation program Horizon 2020 and recently launched the first, green factoring service Green Factoringwhich financially rewards companies that are making efforts to improve the environment.