Italian ECA Sace has announced a collaboration with Italian digital start-up Workinvoice, a fintech platform for trading receivables, developed to support companies looking for alternative sources of liquidity.
The collaboration between Sace and Workinvoice will enable small and midsize companies to access additional instruments for financing their working capital needs by selling their commercial invoices to large companies at competitive prices through a digital public auction open to institutional and professional investors.
“With this agreement, Sace is confirming [its] commitment to promote the opening of the Italian market to alternative sources of financing that are steadily gaining ground abroad,” says Alessandra Ricci, chief business officer of Sace. “The partnership with Workinvoice is the first in a series of 2.0 initiatives offering SMEs innovative solutions to sustain their liquidity.”
Matteo Tarroni, co-founder of Workinvoice, adds: “Our objective, shared with Sace, is to provide SMEs with a simple, flexible instrument for narrowing the credit gap that has made working capital management more complicated, by channelling resources interested in investing in the real economy toward the production system.”