London, 18 November, 2020: Tungsten Network, the global business transaction network, has extended its partnership with Orbian, the leading global Supply Chain Finance provider, to provide additional Invoice Financing services to suppliers on the Tungsten Network.
Roger, a closely aligned partner of Orbian, and leading fintech invested by Societe Generale headquartered in the Czech Republic, will provide the invoice financing services to select Tungsten Network suppliers domiciled in Czech Republic and Slovakia. Operating since 2013, Roger specializes in financing of digitalized invoices and has helped hundreds of companies finance more than 200,000 invoices exceeding GBP 200 million.
Leveraging Tungsten’s automated and digitized invoice processing, the new direct supplier invoice financing service will help suppliers optimize cash flow, eliminate long invoice maturity concerns, access liquidity, and improve working capital performance.
Adam Soukal, CEO of Roger, said, “The ability to cash long-due invoices within a digital invoicing interface—even from home offices—is fast becoming a financial industry standard. Roger is already helping drive this shift and we are proud to work together with Tungsten to offer meaningful value to customers within an expanded geographic footprint.”
The move is a extension and complement to the current Tungsten and Orbian partnership services which provide payables-led Supply Chain financing services to Buyers on the Tungsten Network.
Andrew Lemonofides, CEO of Tungsten Network, said, “As the economic cycle returns to growth, we welcome partnerships that help us support our customers’ cash flow positions in challenging times. Through our partnership with Orbian, we can continue to provide relevant value for dynamic customer needs over time.’’
Thomas Dunn, Chairman of Orbian, said “We have been actively looking for the technology and services that Roger has developed and are excited to deliver these high value capabilities to companies within the Orbian Tungsten Network.”
About Tungsten Network
Our vision is to be the world’s most trusted business transaction network by using data intelligently to strengthen the global supply chain. Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between Buyers and Suppliers faster, easier and smarter.
Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500. It enables Suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over £133bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg’s and the US Federal Government.
Since 2013, Roger has connected investors with companies suffering from long invoice maturities. Roger’s unique investment platform, licensed by the Czech National Bank, enables ICE 1000 independent investors to compete auctioning of anonymized invoices issued with long maturities. Roger’s mission is to help entrepreneurs increase focus on business development by decreasing invoice-related concerns.
Orbian is 100% dedicated to Supply Chain Finance and is the only company in the world that is able to provide a complete SCF solution with the combination of a true multi-bank funding model and its state-of-the-art, award-winning technology platform. As the longest-established firm in the SCF industry, Orbian has been named the “Best Supply Chain Finance Provider” eight times by Global Finance Magazine.