Tungsten Bank launches deposit offering

Tungsten Corporation, a global e-invoicing, invoice finance and analytics company, has unveiled the launch of Tungsten Bank`s deposit offering. The deposited money will provide additional financing functionality to its Tungsten Early Payment invoice finance business.

The proceeds will be used by Tungsten Bank to provide additional invoice financing via its Tungsten Early Payment product. Tungsten Early Payment enables businesses to enhance their cash flow by taking early payment on selected invoices. Tungsten Bank finances invoices sent over the Tungsten Network.

To use Tungsten Early Payment, suppliers sign up with Tungsten and then select approved invoices for early payment. Tungsten Early Payment has so far been provided to eligible businesses in the UK and US, and Tungsten has recently received authorisation to provide invoice financing in Germany, France and Italy, with more territories planned.

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