Company Name: Funding Invoice
Founders: Aamar Aslam
Business: Funding Invoice is a financial service that helps business owners stay on top of their invoices.
Founded in 2015, Funding Invoice supports small business owners financially by providing loans on delayed or slow invoice payments. Business owners simply submit their invoices and other important related documents onto an online platform to await approval for funding. The business takes a percentage fee from the invoices that are funded, however this is a small amount as the company is directed at small businesses looking to prevent financial struggle.
Businesses can apply for any amount of money from Funding Invoice. If this sum is approved, 70-85% of the specified invoice is covered upfront. CEO and founder of Funding Invoice Aamar Aslam got his inspiration for this successful business venture when running a chauffeur service at University. At the time, the 19-year-old student found himself waiting prolonged periods of time for payment from his clients, which had severe financial impacts on Aslam’s business.
After balancing his finances through a private investor and paying back the loan gradually as each invoice payment was made, the entrepreneur began to think of how beneficial this system would be for the countless other small businesses struggling with the same financial issues.
After graduating from the University of Warwick in economics, Aslam then launched Funding Invoice, which has since seen impressive growth; organising over £50 million worth of funding for small businesses, and employing eight staff members to the start-up’s team. Since the company’s success, Aslam has won multiple awards for his talented entrepreneurship, being part of the Great British Entrepreneur’s (GBAE) ’20 most exciting young entrepreneurs to watch in 2019’.
Funding Invoice is the impressive entrepreneur’s third successful company, and proof of Aslam’s dedication to helping small businesses.