For many SMEs, the short-term liquidity is a problem and in these situations a bank loan is not always the best choice. Alternative forms of financing can be much quicker and less complicated. Advanon solves this problem with a new form of factoring. Since July 2015, the Zurich based startup connects investors directly with SMEs on its online platform. The objective is to provide SMEs with a 24 hours access to cash by the pre-financing of outstanding invoices and to offer investors an attractive investment opportunity. With its innovative business model, Advanon was able to complete a first financing round and partnerships with several well-known companies. Furthermore, in August 2015, the British Embassy became aware of the new online platform and suggested to Advanon founders to relocate their company’s headquarters to London: "Venture Kick has not only helped us to expand our network and to bring well-known investors on board, we could also benefit from valuable advice. The Venture Kick experts showed us our weaknesses and helped us with their solutions. Without the program, we would not be where we are today," remarks Phil Lojacono, CEO of Advanon, enthusiastically. In Jan 2016 Advanon was awarded amongst the Top 10 Swiss FinTech startups by the Bilan magazine.
Name CEO: Phil Lojacono
Founded in: 2015
Company Twitter: @advanon
Category: Alternative Finance
Thank you for voting and being interested in the European Fintech Awards & Conference. We would be delighted to see you in Amsterdam on the 14th of April 2016.