INVOX FINANCE

hassanadeogun (33)in #cryptocurrency • 6 years ago

THE WORLD'S MOST INNOVATIVE INVOICE LENDING PLATFORM

About Invox Finance

The Invox Finance Platform is an invoice lending platform tapping into the US$2.8 trillion invoice financing industry.

The team at ABR Finance Pty Ltd is behind Invox Finance. ABR Finance is a successful invoice financing company and has helped fund businesses throughout Australia with A$30 million in invoicing.

ABR will also become the Invox Finance’s first customer, which allow for multiple sellers and buyers to test the Invox Finance Platform with ABR Finance as the reputable investor.

Problem

The key problem with traditional invoice financing is that the financier purchasing an invoice from the seller and advancing the funds against it does not have a direct relationship with the buyer. The financier solely trusts the information provided by the seller. As a result, the relationship between the seller and the buyer is not completely transparent to the financier, and therefore exposes the financier to a considerable risk of the invoice not being paid as agreed or disputed.

Summary of potential problems

The seller and the buyer may collude or conspire together to defraud the financier.

The seller may issue an invoice for a service that has not been fully completed or a product that does not comply with agreed specifications or requirements

The buyer may dispute the payment liability.

There are also issues with the complexity of the processes and the legal documentation involved. The preparation and execution of legal documents is laborious and costly and may involve a number of third-party providers.

The buyer may become insolvent and unable to pay for the invoices.

The seller, in breach of its agreement with the financier, may instruct the buyer to pay for the invoices directly to them and not return the funds to the financier.

The Invox Finance Model

We plan to disrupt and revolutionise the traditional invoice finance industry by implementing a global distributed peer-to-peer lending platform called the Invox Finance platform.

This platform will completely eliminate the need for a financier’s involvement by connecting businesses that wish to accelerate their cash-flow through selling their invoices, directly with investors who wish to finance these invoices.

Decentralized Platform

The Invox Finance Platform will allow sellers, buyers, investors and other service providers to directly connect, interact, share and distribute information.

Lower Rate For Seller

Sellers will be able to obtain financing at lower interest rates than those normally received from traditional financiers who operate outside the blockchain.

Dynamic Invoice on a Distributed Ledger

Dynamic invoices provide all parties with the ability to update invoice information in realtime, ensure immutability and manage sensitive information access.

Bringing All Parties Together

The Invox Finance Platform maintains trust and transparency between all parties through permissioned access, verifications, and an in-built reward system.

Direct Acces To Investors

The Invox Finance Platform will provide sellers direct access to individual investors. This new direct lending environment will benefit both sellers and investors.

A New Way Investors To Diversify

The Invox Finance platform will expose investors to loan products comprising of loan fragments from many diverse businesses across various industry sectors.

Reducing Risks

Invoice loans will be fragmented into smaller increments allowing investors to purchase loan fragments to reduce their risk profile and increase their diversification.

Who will use Invox Finance Platform

Sellers who have invoices they wish to sell to accelerate their cash-flow

Investors seeking higher rates of return and diversification of their investment portfolio

Buyers who will receive extended invoice payment periods and be rewarded for verifying invoices

Invox Token

In conjunction with the Invox Finance platform, an Invox Token will be created on the Ethereum Network.

Provide Acces

Invox Tokens will provide sellers with access to the Invox Finance Platform. Through the Trusted Member Program each seller will be required to pay a certain amount of Invox Tokens as a yearly membership to gain access to the platform.

Reward Work Performed

The system will reward buyers and sellers with Invox Tokens for the verification and payment of invoices.

Invox Token Dissemination

45% Marketing

20% Investment Fund

15% System Development

19% Services

1% Misc Expenses

Initial Coin Offering

The rationale behind conducting the ICO is to pre-sell membership to the system through the sale of Invox Tokens.

Invox Tokens will entitle holders to access the Invox Finance Platform through the Trusted Member Program. By participating in the Invox Finance two-stage fundraising process, you will be provided with an opportunity to aquire Invox Tokens at a discount.

The ICO will be conducted in two parts with a bonus system rewarding participants in the pre-ICO as well as during the ICO itself. The maximum amount of Invox Tokens being minted will be released at the start of the Pre-ICO, along with open source smart contracts on our Github.

Roadmap and Target

Stage 1

During the initial stages, the team will have invested over $500,000 AUD in cash into Invox Finance. This investment was used to create an initial community, develop this white paper, prepare to conduct an ICO, establish a system framework, and most importantly engineer the Dynamic Invoice Smart Contract.

Stage 2

The main objective will be to complete the pre-ICO stage, begin developing the Minimum Viable Product (MVP) and complete the full ICO.

Stage 3

Once fully funded by the ICO, we will complete the MVP and commence rigorous user testing to ensure the release of a quality product.

The Team

Alex Mezhvinsky - Co-Founder

Adam Mezhvinsky - Co-Founder

Daniel Tang - Co-Founder

Victoria Mezhvinsky - In House Legal Counsel

Jose Luis Ramirez - Lead Software Engineer

Lucas Cullen - Lead Solidity Developer - Contractor

Henry Sit - Business Development Manager