Using tech to get paid on time
Tom Brewster looks at how one British firm is innovating when it comes to payments
It would appear Satago is really for those companies with proper finance departments, or those that need one, rather than sole traders or freelancers. But it's hard not to see Satago performing well, especially given there aren't any clear competitors here in the UK.
It's also been involved in London-based accelerator Seedcamp since December, putting it in touch with useful investors as it looks to do more fundraising, a London-based accelerator.
What strikes me about Satago and the London tech scene in particular is that if there's one thing British firms are good at it's finding niches in the finance IT sector. One product that would work well with Satago would be that offered by MarketInvoice, one of London's most successful start-ups of recent times.
MarketInvoice lets companies sell their unpaid invoices to investors. Once those invoices are eventually paid by the customer, the money is passed on to the investor, on top of whatever interest or fees were agreed on.
For anyone having trouble getting paid on time, and who need money fast, there is clearly recourse available from some smart young British businesses.
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