Getting started

How does invoice financing work with Penny?

Unlike traditional models of financing, we keep things simple. No long contracts or tons of paperwork.

We’re here for everyone, especially underserved businesses. That’s why we help sole traders and micro businesses boost their cash flow and achieve the growth they’re looking for.

With our simple-to-use platform, you can advance invoices with ease. Backed by real-time data, you can check your invoice status anytime. Get peace of mind as we make decisions in less than three hours.

Once everything's confirmed, we buy 100% of the invoice value, minus a small fee.

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What is invoice finance?

Invoice finance is funding that lets businesses borrow money against what their customers owe them in return for a small fee. This gives them quick access to a percentage of that invoice’s value.

With Penny, you receive funding in less than 24 hours for new users and as little as 2 hours for existing users.

The main types of invoice finance are:

- Invoice factoring

- Invoice discounting

- Selective invoice finance