Previse builds InstantPay, a machine-learning platform that analyzes historical invoice data to predict which invoices can be paid immediately and which require manual checks. The product aims to accelerate supplier payments from months to as little as a day. Previse currently processes about 100,000 invoices a day and plans to handle payments for five million suppliers within the next five years. The company will use the new funding to expand InstantPay to more corporate buyers around the world and is participating in Mastercard’s Start Path accelerator. Founded in 2016, Previse has raised more than $21.8 million to date. The platform is positioned to unlock working capital for SMEs and to ease cash-flow strain intensified by the COVID-19 pandemic. Previse provides a machine-learning platform that enables buyers to have all their suppliers paid instantly as soon as the buyer receives an invoice. The technology identifies invoices unlikely to be paid so a funder can pay the remainder immediately. Suppliers pay a small fee for instant payment, which is shared between the buyer, the funder and Previse. The company was founded in 2016 by CEO Paul Christensen and is based in London. Previse intends to use the new funding to onboard clients and further develop its technology. The focus is on scaling customer adoption and improving the underlying machine-learning models.

Total raised

$18M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2020