Aztec Exchange, a global supplier of invoice finance products and services, today announced it has been named to Forbes second-annual Fintech 50. The list features companies that use technology to disrupt "the way we save, invest, spend and borrow." Aztec was selected from a group of 300 companies and was one of just 22 new companies to join the ranks.
"We're honored to be recognized by Forbes for our work in leveraging technology to vastly improve supply chain finance," said Edwin Hagan-Emmin, CEO of Aztec Exchange. "PayMe (PayMe.cloud), our primary invoice finance service, enables corporates and e-invoice networks to offer real-time, non-recourse factoring to 100 percent of suppliers globally. Using cloud technology and backed by institutional capital, we make it possible for e-invoice networks and corporate supply-chains to provide 'white label' supplier financing."
Hagan-Emmin continued, "PayMe is a game-changer for suppliers looking to have their invoices paid early and get the working capital they need. We designed PayMe so suppliers will no longer be subject to the hidden fees, credit reviews, restrictions or interest charges of traditional factoring firms. Our customers are typically paid within 24 hours for invoices they select for early payment. For corporate debtors, it enhances their relationships with suppliers as well as provides options to extend trade payable days without putting suppliers at risk."
Being named to Forbes Fintech 50 is just the latest in a round of good news for Aztec Exchange. In October, the firm announced two significant partnerships that greatly increased its reach in Latin America and Europe:
- Aztec now provides Santiago-based Gosocket's 92,000 suppliers with on-demand invoice payment via ePayMe (PayMe's brand in Latin America and Spain). It will service Gosocket's $200 million in monthly invoice finance requests with proprietary and institutional investor capital.
- Aztec signed on with Grupo SERES to bring its services to one of Spain's largest e-invoice providers and their 6,000 clients. With this association, Aztec is also in a position to grow its brand among European SMEs seeking early payment – a nearly $1.8 trillionmarket.