Advanon is an online platform, on which companies can receive liquidity from external investors on the basis of their accounts receivable invoices. There are two services offered: True Sale | Pre-financing.
Advanon was founded by a young group of entrepreneurs, which met at Google, highly motivated employees, as well as supporting experts from the financial industry. You can find more information here: About Us
In Switzerland, Advanon is a directly subordinated financial intermediary to the FINMA. Advanon respects the corresponding anti-money laundering (AML) and “Know Your Customer” (KYC) laws. In Germany, Advanon is working with Wirecard Bank AG, which is regulated under the German Banking Act and directly supervised by the Federal Financial Supervisory Authority of Germany (BaFin).
Depending on the circumstances and interests, one of the possibilities is recommended for you. Please check the table below to see which one and receive more information:
|Credit limit||Depends on your credit limit||Depend on the credit limit of your end-customer, which in some cases might be better than yours|
|Who is the debtor?||You remain the debtor of the pre-financing||Your client is the new debtor towards Advanon|
|Who knows about this?||Your client is not being informed about the pre-financing||Your clients has to give his or her approval of the sale of an invoice and will therefore be informed by Advanon|
|Pricing||Pricing depends on the creditworthiness of your company||Pricing depends on the creditworthiness of your end-customer|
|Time frame||Pre-financing available between 15 and 180 days||True Sale available between 15 and 180 days|
|Regress||With regress||With regress|
Advanon offers a marketplace with free decision of the companies, as well as the investors. The market will decide in the end to which conditions an invoice will be financed. We provide the companies with a price proposal, which is based on previously financed invoices and guide the companies to a fee that will be accepted by the investors. You always have the possibility to increase the fees and therefore the chances to receive financing.
At the moment, Advanon only accepts accounts receivable invoices (invoices you sent to your end-customer) to be financed. This financing can be used to pay your accounts payable invoices (invoices you have to pay). Therefore it will be possible to pay your suppliers faster and profit from better conditions.
Currently, it is only possible to finance invoices that are set out to other companies. We do not accept B2C invoices.
It is possible to extend the payment date up to 60 days towards the repayment date of the end-customer. This can help in the case of delayed repayments of the end-customers or if something does not go as planned.
By financing your invoices via Advanon, you will experience several great benefits. Eliminating the long payment terms of your end-customer enables you to free liquidity within several hours, rather than many weeks. This freed capital may be used to pay open invoices, salaries, accounts payable invoices to benefit from the cashback etc.
If an invoice is pre-financed by the investors via the platform, your end-customer will not be informed about it. Advanon will not get in touch with your clients and the credit management will remain with you.
Should you decide to sell an invoice, then Advanon will get in touch with your customers.
You decide yourself how much fee you are willing to pay. Advanon gives you a recommendation on how much you should offer for each of your offers. By calculating historical values, Advanon can give detailed recommendations in order to ensure your financing. In the end it is solely your decision though.
Every company on Advanon received a credit limit. This limit will be calculated from the document uploaded onto the platform. You can get up to 90% of an invoice financed. As your end-customer will directly pay you, you will receive 100% of the payment directly.
In case your invoices are lower than EUR 1.000, you may bundle these invoices and get them pre-financed to the same conditions.
Your end-customer does not get informed if you decide to pre-finance an invoice. Should you decide to sell an invoice, then we will get in touch with your client and have them verify the existence of the specific invoice(s). In order to confirm this, the customer will have to verify the existence via e-mail and you will have to re-send the invoice with our bank details.
It does not matter in which country your end-customer is located. In case you write invoices in other currencies than Swiss Francs or Euros, you must convert the currency to the currency of the country you are located in. Advanon reserves the right to decline certain invoices or request more information in case the end-customer cannot be thoroughly verified.
Company is notified about the repayment. No fees charged.
We call the company in order to find out the reasons for the delay.
First reminder fee is charged to company.
Second reminder fee is charged to company.
We call the company to inform about the debt collection.
We start the debt collection process.
The repayment of the total amount (investment amount + agreed fee) should be made by the company on the defined due date. Often the reason for such a delay in repayment is a delay of the debtor to pay the invoice. If a repayment is not made on time, we will contact the company. We will inform you regularly about the status of repayment and try to find a solution to speed up the repayment. The company will have to pay a default interest for every delayed day. The default interest rate is the annualized interest rate on a daily basis. This interest is added to the repayment of the investment.
In order to keep the risk in a certain range, we require the companies signing up to fulfill following criteria:
The company must be registered in the trade register in either in Switzerland or Germany.
The company must set out invoices to other companies (B2B).
We credit check the company and in case of a negative result, Advanon retains the right to not allow the company on the platform.
In order to sign up on Advanon, please click here
It is necessary for the persons with signatory rights to identify themselves on the platform. This is not immediately necessary when signing up, but has to be done before we can transfer the financing to the company. The identification will be done online. We require a signature, as well as a copy of a valid identification card or a valid passport.
After the successful registration you have to confirm your e-mail address. To do so, you will receive an e-mail. Afterwards, you may log in and complete your personal information and profile. Generally, we assume the credit limit to be higher the more information is being provided to Advanon and the more transparent you are towards us. In the beginning you may use a small allowance to test out the platform with a first invoice.
You can certainly delete your account anytime you decide to leave us. After deleting your account, you will not be able to retrieve your information. To do so, please log in onto the platform and go to Settings.
The platform is very easy to use. Contrary to classical factoring companies we do not require separate accounting. You upload the invoices you would like to have financed and we will set them as offers live on the platform after verifying them.
Every new offer can be invested in on the platform between two and five days. The investors may take their time until the last day of the offering to transfer the financing to Advanon. Advanon transfers the liquidity to your account within 24 hours after receiving it from the investors (apart from weekends). Generally, you can assume to receive the funds within 24 - 48 hours after your offer is set live on the platform.
The costs of a financing are calculated per offer and include two components: The brokerage fee, which is for Advanon as service provider, as well as the investor fee, which is being transferred to the investors who invested in your invoices.
One or several investors may invest in your invoices. The investors choose individually how much of which invoices they want to invest. As soon as an invoice is financed to more 50% or more, you enter into a contract with Advanon and you will receive the financed amount. The investors transfer the cash to Advanon and we forward it to your provided bank account. As soon as your offer ends, it may take up to 24 hours for the money to be transferred to you (except weekends). Your end-customer will always pay the invoice to your account, when you receive pre-financing. Upon repayment date, it is up to the company to repay the financing (including fee) to Advanon.
No. Advanon is a transparent platform and we believe that you should only pay fees that bring you the most value. There are no fees for uploading an invoice, no feed for the credit check, nor for an unsuccessful financing. The costs are always visible for you and are chosen by the company requesting financing.
You can upload invoices in all sorts of currencies. It is currently only possible to receive Swiss Francs (CHF) or Euros (EUR). In Switzerland you receive CHF, in Germany EUR. We are working on the possibility to trade other currencies as well.
As a split of the invoices allows more investors to finance your invoice, this increases the possibility of your invoice being financed faster.
There are no changes for you. You upload the invoice as you used to. Investors now have the possibility to finance parts of an invoice. The different financings are collected by Advanon and transferred to your account at once. The repayment happens the same way. You will only execute one payment to Advanon and we take care of the rest.
The minimum is EUR 1.000. The maximum you can finance is 90% of each invoice, or up to the credit limit. Depending on what is reached first. We will transfer the money to you as soon as 50% of the invoice is financed. In case the financing is lower than 50%, you can always raise the fee to increase your chances for financing.
The Swiss law does not allow companies to have more than 20 external investors. We therefore have capped the number of investors at 20. In order to standardize the platform, we have issued the same rule for Germany.
Yes, you can always see to how much percent your invoice has been financed so far.
Privacy is a very important topic for Advanon. Advanon takes responsibility to keep your data as secure as possible. The sensibilisation of employees, regular training and an appropriate internal organization are elements, which ensure compliance with data protection.
Generally, only you have access to your data. You can decide, which invoices are being presented to the investors. The investors only see the respective offers, as well as the calculated creditworthiness of your company, which is key for the proposed fee percentage. The investors do not see the invoice, nor the name of your end-customer. In case of a true sale of the invoice the end-customer will be informed and also the investor will know the name of your client.
In order to protect the integrity of the platform, we require an identity check of all users of the platform. We do this by checking the copy of the passport or the identity card. We also require all people with signatory rights to sign our frame contract, which is being done via HelloSign.
In case of a pre-financing your clients are not being informed that you received financing from external investors. Should you decide to sell your invoice, then it is essential for us to talk to your client and have the existence of the invoice verified. The invoice has to be verified in any case. You are asked to upload verification documents, which verifies that your client is informed about the invoice, that a service has been provided, and/or good have been delivered. This can be verified by a contract, an order, a delivery note or similar.
Yes. If the company uploads an invoice and the investor confirms that he will pre-finance it, a contract is formed. The Investor confirms to provide the named sum and the company is committed repay it back with the associated fees.
The company that signed up on Advanon is the one, that remains the debtor and is responsible to repay to Advanon. The company retains the credit management and is obliged to repay, even if the end-customer does not pay its bills. We therefore encourage the companies to only upload the invoices they are certain are being paid by the end-customers. Advanon should not be used to pass off invoices that might not get paid. We help companies to eliminate the long payment terms of their end-customers, whereas the outstanding accounts receivable invoice acts as the basis of the financing.
Every user on the Advanon platform has to verify their identity. Furthermore, all participants on the platform are being checked by Advanon.