Welcoming Solna to FinTech Connect!
Solna is the smart invoicing tool that helps freelancers and small businesses get paid faster, and the first platform of its kind to be powered by credit-score data. Solna provides businesses with the tools they need to manage their cash-flow, as well as insights and instant access to pre-approved financial tools, so they can manage and mitigate any future risks.
How did the idea for the business originate?
We’d spent years working with small businesses and start-ups, and noticed the reoccurring, common, frustrations that they were facing. Many of these were around cash-flow and late payments.
Thousands of UK SMEs are failing every year due to late payments and cash-flow issues, that are often avoidable! So we decided to create a solution to help tackle the problems of late and non-payments, and help freelancers and SMEs get smart about their cash flow.
Do you have customers yet? If not, how far into your business lifecycle are you?
Since launch in April, we have thousands of freelancers and small businesses using Solna to process their invoices, chase late payments, and manage their cash flow. We have processed £3million + worth of invoices through the platform, and have a Trustpilot score of 8.7.
We are still at start-up stage, but looking to move into the growth stage in 2019.
How have you funded your growth to date?
What would a successful year ahead look like for you?
To continue acquiring customers at speed and having a positive impact on their management of late and non-payment. It would also include launching some key integrations and product developments that will really help us make a change to this payment culture.
Outside of your own business, which start up do you admire the most and why?
We admire Grammarly as a start up. They have grown tremendously over the last 9 years, with a product that delivers real value to millions of people every day, and helps them improve something fundamental in life (grammar). It's something we are trying to do with freelancers and small businesses.
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