Quick turnaround facility enables the company to capitalise on Turkey’s growing machinery export market and the growth of the construction sector in Europe
Singapore & Switzerland – Global invoice financing marketplace, Incomlend, announced a new invoice financing programme for Vensen International, a manufacturer of electrolysis machines, with a production facility in Turkey headquartered in the UK. The working capital solution enables the company to finance and increase the production output to meet increased demands for specialised water treatment machines for buildings.
Vensen International’s customers are European and Switzerland-based contractors that build residential and public properties across Germany and Switzerland. These customers use electrolysis machines during the construction phase to provide clean water. They will also install these machines inside buildings to treat and disinfect water for the residents.
Traditionally, it takes Vensen International up to 90 days to cash in an invoice. However, the extended payment terms can undermine their financial agility and limit their manufacturing output. With the quick turnaround facility provided by Incomlend, Vensen International can cash in an invoice as early as three days after the goods are shipped to the buyer. It provides them with the cash flow needed to swiftly fund their next production cycle and meet new or increased orders from their customers.
Founded in Singapore and with offices in Europe, India, and Southeast Asia, Incomlend connects small and medium enterprises (SMEs), like Vensen International, globally with communities of investors. It enables them to buy and sell individual invoices via a proprietary tech-enabled and secure invoice exchange platform. Incomlend also recently launched the Incomlend Environment, Social and Governance (ESG) Invoice Financing Programme, Asia’s first structured finance programme. Through this initiative, Incomlend connects socially conscious investors with responsible, sustainable SMEs.
With Incomlend’s invoice financing solutions, Vensen International can now pursue new business opportunities to capitalise on the construction sector boom in Europe and meet the high volume of machinery orders from those markets.
According to an Oxford Economics report, construction output in Western Europe is forecast to grow by 23% between 2020 and 2030, hitting US$2.5 trillion in 2030.
Vensen International Director Mehmet Kösekul said:
“With the Incomlend Invoice Financing Programme, we now have greater access to working capital to fund our operations, increase our manufacturing volume, and accelerate our sales cycles. It enables us to pursue new revenue streams and grow our business as Europe’s economy recovers. We look forward to a fruitful and long-term partnership with Incomlend.”
Incomlend CEO and Co-founder Morgan Terigi commented:
“The machinery industry is one of the fastest-growing export industries, and SMEs in this sector is uniquely positioned to tap on burgeoning demands from Europe amid the region’s booming construction sector. Through our quick turnaround financing facility, Incomlend empowers SMEs, especially those with growth ambitions, to benefit from the economic rebound in overseas markets. Our non-recourse working capital solutions provide companies like Vensen International Ltd with the funds to expand their presence abroad without the burden of taking a loan and accumulating debt.”
For more information on Incomlend, please visit https://www.incomlend.com/.
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