Invoice Financing started 7,000 years ago in Mesopotamia. The process has also evolved over time and more rapidly with the rise of technology.
Pilon built an API (Application Programming Interface) to allow companies to submit their invoices digitally to the financial institute and if they are on web based accounting software such as XERO and Quickbooks, to also allow the companies to give permission for financial institute to verify and extract their invoices in real time into their credit risk algorithm.
It was important that we we designed the system with the intention to make it as simple to implement as possible. So we made use of the phone’s native QR capability to scan, without the need to download or integrate with any app, made it cloud based, nothing to install or setup and made it available (free) for all to use.