t: @getsmepaid

LI: Previse

CEO :  Paul Christensen

Founders: Paul Christensen

Founded: 2016

Keywords: Payments, Trade Finance, SME finance, algorithm-driven invoice payments, machine learning

Who is it for: Businesses

Latest Funding: $7M Series A, Aug 2018

Total Funding: $10.7M

Lead investor: Augmentum Fintech / Bessemer Venture Partners

HQ: UK, London

“Getting businesses paid.”

SMEs sell approximately $31.5Tn to large firms globally – and in Europe 88% of report frequent late payments.

Previse’s AI-driven payment technology analyses invoice data from large corporations to tackle the persistent problem of slow invoice payments to SME suppliers and enables payment as soon as an invoice is received.

In July 2019, Previse announced a collaboration with underwrite Beat Syndicate 4242 of Lloyd’s to provide an added level of assurance to the institutions which fund its instant payment schemes. By reducing the risks to their capital, Previse is able to even further bring down the costs of instant invoice payments, widening access for the SME suppliers which need this service most.