Applying and accessing Finexkap service
- Why is there a registration process?
- What are the requirements for pre-registering my company?
- I can’t pre-register my company, what should I do?
- How can I pre-register my company?
- How does the process to accept my company work?
- How do you gather information and data regarding my company and my clients?
- Am I required to have to publish my financial statements?
- My company is a start-up, can I request working capital?
- I am self-employed, independent/ licensed professional or freelancer; can I request working capital?
- Can you explain the difference between Instant Cash, Cash Creation and Cash Solo?
- I thought Finexkap was available on a non-commitment basis, why the subscription for Cash Creation or Cash Solo?
- What is the fee of € 25 per new client for Cash Creation or Cash Solo?
- After the pre-registration of my company, why would you request additional documents?
Why is there a registration process?
In order to access our platform and our working capital solutions, we need you to check first that your company meets our access requirements by pre-registering. This process is done directly online on our web platform (www.finexkap.com) or via the Cash Connect Module when available in your digital B2B tool. Based on objective criteria such as the legal status of your company or its number of years in activity, our algorithms will then redirect you towards the most appropriate solution for your situation: Instant Cash, Cash Creation or Cash Solo. Our teams will then analyze the various documents and information submitted in order to confirm or decline your registration to our service. In case of a positive response, your personal credentials will allow you to perform as many working capital requests as necessary for your activity. In the case of Cash Creation and Cash Solo only, the use of the platform is subject to a monthly subscription, but only as long as you require our services. This subscription can be canceled at any time given a two-month (2) notice; however, the cancellation will be effective only once all debts have been reimbursed, including any late payment fee that might have occurred. Every working capital request is matched with a a specific invoice and related supporting document(s) for which you wish to anticipate the payment due by your client.
What are the requirements for pre-registering my company?
Financing invoices with Finexkap AM*- entails satisfying certain requirements to (i) pre-register your company and (ii) validate your clients.
Requirements to pre-register your company:
Validation of your company pre-registration is determined by the combined analysis of various indicators such as its legal status, business activity and/ or financial situation. Above all, your company must:
- process invoices to other companies ("B2B");
- be private and registered within the European Economic Area.
Requirements to validate your clients:
Invoices that you wish to submit to Finexkap AM*- for analysis and possible sale must also meet certain conditions to determine their eligibility. This analysis is done on a case-by-case basis using a combination of indicators/ data related to the financial situation of your clients and/ or the details of your invoicing workflow. Thus, your pre-registration on the platform does not guarantee financing, only the ability to generate financing requests.
I can’t pre-register my company, what should I do?
If you can’t pre-register your company, you have two other possibilities:
- - your company is basically not eligible because of fundamental criteria such as its legal status or activity (example: B2C activity) and unfortunately there’s nothing we can do for you;
- - after pre-registration, you receive a message telling you that your company was not eligible for reasons related to its financial situation; you can nevertheless choose to be kept informed about the future evolution of your eligibility by letting our teams know.
For any other questions, please check the FAQ page before contacting our teams.
How can I pre-register my company?
In order to pre-register your company, simply go to www.finexkap.com or via your Cash Connect widget available on your digital B2B tool, and click on the button "I want to pre-register":
- Complete the first step by entering the name and yourcompany ID number (SIREN/ SIRET) and confirm that your main activity is B2B. Our algorithms will then determine whether or not you will be able to continue the process.
- In the case of a positive answer, you will then be automatically rerouted to the financing solution best suited to the situation of your company: Instant Cash, Cash Creation or Cash Solo.
- The registration form will allow you to input all the information required to create an account.
- You will then receive an email with a link to authenticate the email address associated with your Finexkap account.
- You now have access to your Finexkap account where all you have to do is complete your profile and attach the required documents to complete your financing requests. Please note that Cash Creation and Cash Solo require a monthly subscription that can be cancelled at any time with a two-month (2) notice. Cancellation will be effective only once all financings have been reimbursed, including any potential late payment fee.
How does the process to accept my company work?
Once your Finexkap account is created, some information and documents are compulsory in order to receive financing offers including:
- the last three (3) bank statements of your company’s main operational bank account (4 bank statements for Cash Creation and Cash Solo) via the connection with our partner Bridge/ Bankin' (more information below);
- a scanned copy - front and back - of the ID document (National Identity Card or Passport) of your company’s legal representative;
- your company main bank account details (in banking format: numbers are not sufficient); and
- provided your company has already closed a financial reporting period, the last tax declaration of your company as certified by your chartered accountant (PDF format only).
How do you gather information and data regarding my company and my clients?
We work in partnership with public and private databases in order to gather financial and legal information regarding your company. This transfer of information is completely automated and secure: when your company, or that of your clients, is identified, we connect our system to these databases via APIs (programming interface). Our analysis grid retrieves and processes this information within a few seconds.
Am I required to have to publish my financial statements?
Yes - if your company has already closed its first financial reporting period and is eligible for Instant Cash or Cash Solo No - if your company was created more between 4 to 18 months ago and is eligible to Cash Creation or Cash Solo. The publication of your company financial statements accelerates our analysis process. If you have not published your financials statements for the last financial reporting period, you can still submit these either by uploading them on the platform or by contacting our customer service directly.
Whichever way the documents are submitted, please note that they are are mandatory for our analysis, especially for companies interested by Instant Cash or Cash Solo which have already closed a first financial reporting period. Any other relevant information or data that may support us in our analysis is obviously welcome.
My company is a start-up, can I request working capital?
Yes, that's the whole purpose of Cash Creation which allows us to support start-ups for their working capital needs. Only 4 months of activity are required in order to use Cash Creation.
I am self-employed, independent/ licensed professional or freelancer; can I request working capital?
Absolutely, Cash Solo is the working capital solution exclusively designed for self-employed workers, independent/ licensed professionals or freelancers. Only 4 months of activity are required to use Cash Solo. More information below.
Can you explain the difference between Instant Cash, Cash Creation and Cash Solo?
It's very simple, your working capital solution depends on your company profile:
1 / your company is a private legal entity duly, has been active for the last 4 to 18 months and has not yet closed its first financial reporting period: Cash Creation;
2 / you carry out your activity as a self-employed worker, independent/ licensed professional or freelancer and have at least 4 months of activity: Cash Solo;
3 / your company is not concerned by either of the two previous cases and is a private legal entity duly registered in the European Economic Area: Instant Cash.
Note: Cash Creation and Cash Solo are accessible via a monthly subscription. Moreover, any new client for whom you want to finance invoices entails a fee of € 25 before taxes to cover the initial acceptation process and analysis. This is a one-time fee for an unlimited period.
I thought Finexkap was available on a non-commitment basis, why the subscription for Cash Creation or Cash Solo?
Rest assured, there is still no duration commitment when using Finexkap. On the other hand, Cash Creation and Cash Solo are only available to companies paying a monthly subscription in order to receive financing from us.You can use our services as long as this subscription is valid and can terminate it at any time with a simple two-month (2) notice to ensure that there is no pending financing that requires reimbursment. Cancellation will be effective only once all financings have been reimbursed, including any potential late payment penalty.
What is the fee of € 25 per new client for Cash Creation or Cash Solo?
This flat fee is only due when you actually receive funding from a non due invoice to a new client that was not previously listed among you clients list available in your Finexkap account. The fee simply covers the cost related to audit and analysis processes that are required to validate your client. Once this validation is done, you are free to submit as many invoices as you want related to this specific client.
After the pre-registration of my company, why would you request additional documents?
In some really specific cases (companies requiring an in-depth analysis, specific billing process, etc.), Finexkap AM*- team must collect the information necessary to fully understand and assess your company profile. Once this analysis process is completed and validated, you will then have full access to the features of the Finexkap platform as long as this information is up-to-date.