Clear, An Indian Saas Company, Introduces A Platform For Invoice Financing

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An Indian B2B SaaS company called Clear is rumored to have introduced a digital invoice financing option.

According to CXOtoday, the new Invoice to Financing (I2F) platform aims to make financing for people and businesses simpler in order to promote financial inclusion and growth nationwide.

According to the study, the I2F platform, which is based on the Goods and Services Tax (GST) network, makes it possible for small firms to obtain finance against their invoices in less than 30 minutes. It simplifies the credit processing process by using a real-time interface with eInvoice and GST filing data.

According to the study, vendors may open a Clear account, grant the platform access to their GST data, and get limits based on this data.

According to the report, the process is paperless since Clear automatically populates qualified invoices on the platform so that the vendor may pick among them. After selecting the invoices, money is sent to the vendor’s bank account. Depending on the vendor’s cash flow, repayment dates could be set.

In a statement, Clear founder and CEO Archit Gupta stated, “We recognized a significant gap in the market when it came to supply chain financing for small businesses.” “By utilizing the strength of GST data, our automated invoice financing product was designed to bridge this gap.”

In order to make money simpler for Indian businesses and individuals, Clear was established in 2011. The company expanded into loans for small- to medium-sized businesses (SMBs) and B2B payments with the acquisition of supply chain financing startup Xpedize in March 2022.