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Home Vendor Technology

Blockchain-based invoice factoring platform Hiveterminal expands to DACH region

This news comes less than two weeks after Hiveterminal announced that Swiss-based Bonart Mati will be taking over as Hiveterminal CEO...

Published by CryptoNinjas.net
09/13/2021
Blockchain-based invoice factoring platform Hiveterminal expands to DACH region

Hiveterminal, a blockchain-based invoice factoring platform, today announced that it has moved its headquarters to Switzerland’s “Crypto Valley” Zug, the European blockchain hub. The company will be operating under the legal entity Hiveterminal AG.

The founding of Hiveterminal AG marks the platform’s official entry onto the Swiss market, the first in a series of steps that will lead the company into all DACH regions and the rest of Europe. The aim is to start cultivating relationships with Swiss small and medium-sized enterprises (SMEs) that would like to have fast and continuous access to liquidity without going through the hassle of applying for bank financing.

“Invoice factoring as a financing option is not well developed in Switzerland simply because there is a need for a more user-friendly solution within this space. We aim to take advantage of this fact and make invoice factoring respectable in CH and the rest of Europe - also by using blockchain technology.”
– Bonart Mati, CEO of Hiveterminal

Primarily intended for small and medium-sized businesses, Hiveterminal is a blockchain-based invoice financing platform that has crowdfunded USD 8.53 million from 2221 contributors, who have become owners of Hiveterminal’s own Hiveterminal Token (HVN).

Launched in 2018, Hiveterminal has grown to support more than 4,000 registered companies, with a quest to secure fast and cheap liquidity for their business by selling invoice receivables. Hiveterminal is used by nearly 300 investors from over 40 countries to buy invoices from trusted and verified companies, finding the invoices that suit their risk appetite thanks to the platform’s real-time invoice risk scoring algorithm.

Further, the Hiveterminal-platform can also be used for closed ecosystems or white-labeled on a Software as a Service (SaaS) basis in its Enterprise edition (Early Payment Gateway), which was recently launched. In April of 2020, Hiveterminal secured an investment from a Swiss VC company to scale the company and expand into the DACH region, with the solution now available to companies within the DACH market.

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