Platform Black, a Winchester, UK-based invoice trading company, has raised an angel funding of undisclosed amount.
Backers are business angels in the investor network managed by the FSE Group.
Led by CEO Christopher Shaw, Platform Black offer an auction-based online invoice trading service that allows SMEs to release funds tied up in their invoices thereby generating instant finance and improving cashflow. It works with both high street banks and asset-based lenders, and less traditional sources of finance such as liquidity funds, family offices and high net worth individuals.
The company intends to use the capital to continue to increase adoption of its solution among SMEs.