Financing solutions and price
- What working capital solutions are available with Finexkap?
- How much does your working capital solutions cost?
- What is the fee for Instant Cash, Cash Creation or Cash Solo?
- What is the late payment fee for Instant Cash, Cash Creation, or Cash Solo?
- What is the holdback under Instant Cash, Cash Creation, or Cash Solo?
- How does the Cash Creation or Cash Solo subscriptions work?
- In practical terms, what happens if I sell a €10,000 invoice with Instant Cash?
What working capital solutions are available with Finexkap?
Finexkap offers a unique suite of working capital solutions for every company:
- - for SMBs that have already closed a first financial reporting period, Instant Cash is the right solution to finance their non-due invoices on a need-be basis. This solution is an all-in-one package that comprises financing, credit-insurance and collection. Instant Cash requires no duration nor amount commitments, no personal guarantees and operates with a fully digital process without leaving your desk. Once you submit a financing request, we will answer and provide you with a customized and detailed proposal within 48 hours if possible.
- - for legal entities that have not yet closed their first financial reporting period and have been active for a period comprised between 4 and 18 months, Cash Creation will support them during the first few months of their business ramp-up. The solution is identical to Instant Cash with the exception of a 20% holdback and a monthly subscription that can be canceled at any time with a two-month (2) notice and a flat fee of € 25 plus taxes for every new client financed;
- - for self-employed workers, independent/ licensed professionals or freelancers showing at least 4 months of activity, Cash Solo solves your challenges to get your invoices paid. The solution is identical to Instant Cash with the exception of a 20% holdback and a monthly subscription that can be canceled at any time with a two-month (2) notice and a flat fee of € 25 plus taxes for every new client financed;
- - for larger companies, Cash Reverse allows suppliers to anticipate the payment of their invoices with a customized and secured web platform. Unlike traditional reverse factoring solutions, Finexkap technology can be integrated within a few weeks without excessive mobilization of time or workforce.
In addition, Finexkap also offers a suite of widgets for to integrate B2B digital tools:
- Cash Connect for SaaS accounting software, e-invoicing platforms or, more generally, any digital B2B tool, Cash Connect is the only widget that allows you to propose your users to solve their working capital challenges without leaving your software interface. Offer your clients a unique financing functionality and improve the monetization of your client base.
- Cash Market for B2B marketplaces, our exclusive technology allows suppliers to get paid within 24 hours (credit-insurance included). A real booster for your business, Cash Market enables B2B marketplaces to secure transactions, increase conversion rates and accelerate the turn-over.
Don’t hesitate to contact us for more information.
How much does your working capital solutions cost?
When you submit an invoice via your Finexkap account, Finexkap AM*- then analyzes and validates your request on a case-by-case basis thanks to its proprietary technology. In case of acceptance, we will send you a financing proposal detailing the pricing conditions by email. A simple electronic signature will then trigger the wire transfer.
For Instant Cashwe will apply only one success fee (between 1.9% and 5.80% of the invoiced amount including VAT) with no limit on the number of invoices you can submit. In addition, a 10% holdback (percentage that may vary) is also deducted and refunded as soon as the your client pays the corresponding invoice. In case of a late payment by a client, a 12% per annum fee is charged pro rata temporis on the basis of the amount remaining due beyond 15 days of arrears.
For Cash Creation and Cash Solothe fee applies in the same way as for Instant Cash. Other pricing parameters may vary such as a 20% holdback that is deducted from the funded amount and refunded as soon as the corresponding invoices is paid by your client. In addition, a monthly subscription is required in order to access the service as long as you are receiving financing. This subscription can be terminated at any time by giving a two-month (2) notice. However, this cancellation will not be effective until all pending debts have been fully reimbursed, including any penalties associated to late payments. Finally, a fixed fee of € 25 per new client that is financed is applied in order to cover the costs related to the necessary audit of your client. This fee is only payable at first amount actually financed with this client and will allow you to submit invoices related to this client as many times as necessary. In case of a late payment by a client, a 12% per annum fee is charged pro rata temporis on the basis of the amount remaining due beyond 15 days of arrears.
Our pricing policy is completely transparent and appears in every financing proposal that may be sent by email and/ or available on the platform. No additional fees are charged. That being said, you remain free to make an early refund of any invoice financed and buy it back at no additional cost.
What is the fee for Instant Cash, Cash Creation or Cash Solo?
The fee that we charge for Instant Cash, Cash Creation or Cash is similar to a financial discount.Simply said, it means that we calculate a % rate that we apply on each invoice (VAT included).
This fee is billed and deducted directly from the financed amount once you validate the financing offer.
What is the late payment fee for Instant Cash, Cash Creation, or Cash Solo?
The late payment fee is computed with the amount remaining due for outstanding invoices that are more than 15 days late and a rate of 12% per annum.
The rate is pro rata temporis and is computed daily until the actual payment of the invoices. It is calculated with a reference rate (Euribor 1 month).
Warning! This does not mean that you will pay 12% of the value of your invoices in arrears. As the late payment fee is an annual interest rate, it is computed exclusively with the difference between the actual late payment date (starting 15 days after the due date) and the settlement date.
What is the holdback under Instant Cash, Cash Creation, or Cash Solo?
The holdback is an unfunded portion of the nominal amount VAT included of every invoice sold. It is intended to partially cover the risk of "dilution" (potential discounts, litigation, etc.).
The amount of the holdback appears clearly in every financing offer eventually sent to you by Finexkap AM*.
How does the Cash Creation or Cash Solo subscriptions work?
Access to Cash Creation and Cash Solo both require a €100 plus taxes monthly subscription:
- When you want to agree and sign your first financing offer, you need to validate the monthly subscription by filling in the bank details needed to cover for the direct debit that will be performed with the secured payment service Cyberplus Paiement.NET. General conditions of the sercice are accessible at : https://www.rivesparis.banquepopulaire.fr/portailinternet/Editorial/Informations/Documents/CGCyberpluspart-CYBERPART201404.pdf ;
- This subscription is due only as long as you receive financing, meaning as long as your outstanding amount is greater than €0;
- Please note that you can cancel this subscription at any time with a two-month (2) notice. However, this cancellation will not be effective until all pending debts have been fully reimbursed, including any penalties associated to late payments;
- For Cash Creation users, please note thar your subscription will automatically be terminated as soon as your company closes its first financial reporting period. You will then have full access to Instant Cash.
In practical terms, what happens if I sell a €10,000 invoice with Instant Cash?
If, for example, you wish to finance an invoice amounting to € 10,000 taxes included with Instant Cash, Finexkap AM*- can potentially give this financing offer. Please find below an exemple (example for reference purposes only):
- Sale fee: 3%
- Late payment fee: 12% per year
- Holdback: 10%
(these numbers are non-contractual and for reference purpose only. Actual rates may vary depending on the financial characteristics of your company, your client and the invoice submitted)
Accept the offer and Finexkap AM*- will immediately wire transfer € 8,700 to your bank account (€ 10,000 - € 300 Sale fee - € 1,000 holdback).
If your customer pays the invoice before 15-day following the due date, Finexkap AM* will then refund you the full amount of the holdback at the time of payment, or € 1,000.
In this example, total cost for Finexkap is € 300. This cost is directly deducted from the amount financed.
In the event that your client hasn't paid the invoice after 15 days or more past its due date, the late payment fee will be applied on a pro rata temporis. For example, if your customer pays the invoice 45 days after its due date, the late payment fee will be €90 X [(€ 10,000 - € 1,000 holdback) x 12% x 30/360]. The late payment fee is deducted from the holdback you will be refunded.