Tungsten has extended its invoice financing service into the US. Tungsten Early Payment, which enables suppliers to control when they receive invoice payments, will now be available to certain US-based companies that use Tungsten Network to invoice their customers.

Tungsten Early Payment enables suppliers to be paid for invoices when they need it. Suppliers select the invoice and payment date and Tungsten pays the invoice amount minus a discount charge. This integrated invoice finance offering has been designed with Tungsten Network suppliers in mind and provides a low cost and easy-to-access alternative to traditional forms of bank finance.

This move is part of the company’s progress towards its medium term goals of:

• $1,000 bn of invoice value on the Tungsten e-Invoicing Network
• $100 bn of invoice financing through Tungsten Finance
• $10 bn of savings for clients using Tungsten Analytics.

Just like announcing Frank McKay as Senior Advisor.

Edmund Truell, Group CEO of Tungsten:
“The vision the management team and Board had when we set up Tungsten, just over a year ago, has come to fruition. We are successfully financing invoices for UK-based suppliers on our platform, and are now beginning to do the same for selected eligible suppliers in the US. As new supplier companies are invited to join Tungsten Network by their customers, they will be invited to sign up for Tungsten Early Payment at the same time.”