Paris, may 19, 2017 – SMART TRESO, a subsidiary of the group, Entrepreneur Venture, a major player in the financing of SMES in France for over 15 years, offers to SME/ETI with a new solution of financing their cash by way of assignment of their trade receivables. This solution, which is a simple alternative and flexible factoring, has been launched in France in October 2016 and has allowed for the funding of almost 40 Million of receivables in 6 months.
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Payment terms : responsible each year a quarter of business failures !
In 2015, the mismatch of the cash of French companies, between the settlement of their clients and payment to their suppliers amounted to 12 days of turnover. More than two-thirds of French companies are paying their bills after the due date and, at the end of 2016, the average delay compared to the legal time allowed was 11.6 jours1. These chronic delays are causing every year a quarter of business failures. These findings have led to strong growth in factoring (+8% in 2016) but also the concentration of this activity in the hands of a small number of bank operators, of which five of them account for more than 80% of the market. However, alternative non-bank based on the assignment of trade receivables to specialised funds, previously reserved for large companies, become accessible to SMES : the Fund SMART TRESO was born at the end of 2016 of this fact !
1 Report 2016 of the Observatory of timeframes of payments, published in march 2017.
Specifically, how does it work ?
#1 SME – the “assignor” – evaluates its financing needs and establishes with SMART TRESO a perimeter of the disposal, that is to say, to all of its customers on which the Fund will acquire all or part of the invoices issued by the seller.
#2 once per month, the transferor shall present its invoices to SMART TRESO way cloud. It may change at its discretion the scope of transfer in the course of time. The bills are paid by the fund for the SMART TRESO to the transferor in 24 hours on the basis of a proportion greater than 90% of their amount.
#3 The assignment is confidential, the customers of the transferor are not informed, and the transferor retains the management of its customer relationship management : control dunning and collections, rise of the money collected (usually at the end of the 60’s and 70 days) to the account of the Fund SMART TRESO. Upon receipt of the regulations, the fund will release a bonus that can supplement the amount financed of the receivable, up to a maximum of 99%.
The solution proposed by SMART TRESO has an innovative positioning based on three essential characteristics :
> the simplicity of the offer : the sale of receivables to Fund SMART TRESO is instant, without recourse;
the risk of insolvency of the debtor is transferred to the Fund ; the transfer is made without any requirement of collateral, it is déconsolidante and confidential. The offer is ” payment for use “, the Funds SMART TRESO holding in total a fraction of the notional amount of the assigned receivables, excluding any other form of commission.
> flexibility : the scope of the assignment (clients of the transferor, and invoices) is variable and is subject to an adjustment according to the needs of the SMES ceding company, without the constraint of a minimum transfer annual.
> the proximity and quality of service : SMART TRESO invests in the knowledge of its customers and support their needs. The company brings the same quality of follow-up in the short-term financing that investors in capital development are the long-term financing. It is the mark of an Entrepreneur Venture, the majority shareholder of SMART TRESO.
For Jean-Yves Bajon, President of SMART TRESO : “The funding of invoices is a sector in full evolution, driven by new technologies, the movement of disintermediation of banking, and the need for personalised services to SMES. Since its creation in October 2016, the Funds SMART TRESO has funded 40 M of invoices with a target of 100 Million for the year 2017 “.
For Frederick Zablocki, managing Director of Entrepreneur Venture : “The accompaniment, for more than 15 years, many of the SMES I was confirmed in my intuition that the solutions of financing of the cash were not adapted to the needs and specificities of SMES. The creation of SMART TRESO responds to this observation by providing a service that is simple, flexible, and proximity.”
About SMART TRESO
SMART TRESO, created in 2016, is a subsidiary of the group Entrepreneur Venture. SMART TRESO is a leading non-bank that accompanies the SMES in the selection and the assignment of their receivables to Fund SMART TRESO and in the management of their cash flow needs.
www.smart-treso.com
About Entrepreneur Venture
Founded in 2000, Entrepreneur Venture is a management company, independent certified AMF and AIFM, which specialises in the not rated, owned and directed by its founders. She manages 3 FCPI, 4 FCPR and 27 Investment Funds for the outstanding amounts of more than 600 Million. A major player in the bond financing of the SMES, Entrepreneur Venture has conducted more than 100 emissions of bonds over the past 3 calendar years.
www.entrepreneurventure.com
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