New fintech launches access to cash for business solution

A new Fintech, Saltare has launched with the aim of improving cashflow, strengthen supply chain relationships and give more certainty over their payments.

The company says it was born out of the knowledge that 82% of businesses fail not because of lack of profit, but through lack of cash. Yet, recent studies suggest UK SMEs are currently waiting on almost £200bn tied up in unpaid invoices, and the key to unlocking those payments could rest in incentivising larger organisations to pay early, and in giving them the tools and reasons for doing so.

The fintech is looking to make transformational change in how payments are made and received, developing digitally-based tools to encourage larger organisations to get money into the hands of their smaller suppliers more quickly, and benefit directly by doing so through discounts and other preferential terms.

Chief Executive Anthony Persse at Saltare said “British business needs to be much more disruptive in its thinking if we are to make real, meaningful change,” Anthony explains.”

“By shifting the debate away from the negative commentary around ‘late payment’ and moving it towards a more positive conversation about ‘early payment’, we will do much more than simply improve payment performance. We will help create more jobs, deliver greater levels of investment and generate deeper social value with long-term sustainability at a time when the country needs it most.”