How to use the platform
- I am not the legal representative of the company, can I submit a financing request?
- Why do I have to confirm your financing offer within 24 hours?
- How to incorporate these financial operations for my accounting reporting?
- Is the information and data secured with Finexkap?
- Do I need to modify or create a bank account?
- Is my financial information shared with third parties?
- What happens if Finexkap and/or Finexkap AM* file for bankruptcy?
I am not the legal representative of the company, can I submit a financing request?
When registering on www.finexkap.com or via your Cash Connect widget, you can specify that you are not the legal representative of the company you wish to register. In this case, we simply ask you to input the contact details of the Legal Representative so we can contact him/ her. In order to resume the registration, the following documents will be required:
- a scanned copy - front and back - of the ID document (National Identity Card or Passport) of your company’s legal representative;
- a Power of Attorney signed by the legal representative and yourself. You can find a template to fill in your Finexkap account.
Why do I have to confirm your financing offer within 24 hours?
When analyzing your financing request, our proprietary risk management tools determine the possibility of acquiring your invoices considering both the risks incurred by past acquisitions and future cashing forecasts. The 24 hours to accept an offer can be explained simply by the fact that, after this deadline, invoices submitted may no longer meet our eligibility criteria. Of course, if you receive an offer on a Friday, you have until the following Monday to accept and sign the financing offer.
How to incorporate these financial operations for my accounting reporting?
Below, you will find the description of the accounting operations which will enable you to input an assignment deed. The sold invoices are to be cleared from the 411 "Clients" account and recorded as a counterpart to the debit of the 4118 "Clients transferred invoices" account. This may be input in the 512 “Bank” account for their net amount, i.e. the nominal amount of the invoices sold after deduction of the holdback and sale fee.
Is the information and data secured with Finexkap?
Our users' data security and confidentiality is a top priority for our teams. The Finexkap technology only uses servers hosted in secured data centers. In addition, all electronic information and data processed by our teams and/ or the platform is encrypted via the SSL Protocol.
Do I need to modify or create a bank account?
No. No specific steps to modify or create a bank account are necessary. Any financing that might occur will be paid through one of your existing bank accounts.
Is my financial information shared with third parties?
Again, our users' data security and confidentiality is a top priority for our teams. Finexkap AM*- and its financial partners use legal and financial information provided by public B2B databases that collect all data available once the financial statements are published in the Registry of the Commercial Court. This data might completed by additional information you may provide. All such data is processed by Finexkap, Finexkap AM*, their financial partners and respective subcontractors with the utmost confidentiality and will only be disclosed to third parties if the transaction or regulations so require, provided that they are subject to professional secrecy or are bound by an obligation of confidentiality.
What happens if Finexkap and/or Finexkap AM* file for bankruptcy?
In the event of a bankruptcy for Finexkap or Finexkap AM*, your outstanding transactions related to the invoices thate were sold will not be affected in any way. Indeed, the refinancing vehicle managed by Finexkap AM*is fully segregated from Finexkap and Finexkap AM*- assets. This refinancing vehicle will be represented by Finexkap AM*or any successor asset management company or, in the event of a default, by the custodian. All holdbacks will be refunded in accordance with contractual terms and conditions.