NEW CEO TO LEAD INVESTLY PLATFORM OFFERING

Investly has appointed seasoned working capital executive Wayne Hughes as its new Chief Executive Officer to make Investly the leading receivables finance platform across the UK and rest of Europe.

Hughes brings with him over 25 years of experience working in the UK’s financial services industry, including senior roles with working capital industry leaders such as Demica and Bibby Financial Services. He states “Much market and media commentary has emphasised the disruption of established banking & financial service models through the rollout of B2C offerings focused on disintermediation of the incumbents. I believe the true value exists in cooperative B2B relationships between FinTech partners and existing market participants. Investly is incredibly well placed to continue establishing mutually beneficial partnerships across the industry.”

Last month Investly introduced its Platform offering for working capital and e-invoice providers. Instead of going after businesses directly, Investly has focused on making its technology available for large origination partners who as a result can make selective invoice discounting available for their customer base without having to build it in-house or expand the coverage of existing customer base due to higher degree of automation. This shifts Investly’s business development focus from direct marketing to business customers to partnerships with large originators and technology companies.

“Since Wayne joined our management team to head the partnerships earlier this year, we have made significant progress with key partners and introducing the Platform offering. He has seen FinTech-bank type of partnerships from inside out and has a product driven mindset. This makes him one of the best equipped people to deliver solutions that include the best of both worlds,” explained Siim Maivel, Founder and previous CEO of Investly who now assumes the role of Chief Data Officer.

He adds “Working with the significantly larger pools of customers of our partners opens up further tools for data driven credit decisioning, fraud prevention and automation. I will be carrying our long held vision towards machine assisted credit decisioning engine in our next phase of growth as Chief Data Officer. Credit intelligence will be key in becoming a market leader and sustaining healthy credit model.”

Alongside with the Platform offering for partners, Investly will continue to serve all of its existing and new inbound business customers in the UK and Estonia.