“Unable to find a solution that was the right fit for releasing working capital to meet our growth requirements I was introduced to InvoiceFair. It was a refreshing experience from the outset as we worked closely together to tailor a solution that met our specific needs”

Sharon O'Dwyer, General Manager
Summary:

Based in County Limerick, Greentech Plastics Ltd are experts in high grade plastics refinement. The company recycles and refines post-industrial plastics into high grade plastic streams for resale into the plastics industry.

The Company required an innovative finance solution to fund purchase orders.

The
Customer:

Formed in 2011 Greentech Plastics Ltd use their own proprietary technologies to recycle and refine post-industrial plastics into high grade plastic streams for reuse.

Their technology provides a complete solution to the recycling and recovery of pure reusable plastic suitable for injection moulding.

The
Challenge:

The Company needed an innovative solution beyond the traditional invoice discounting offering with no debtor concentration or geographic limits , one that could release cash to fund Purchase Orders. The ability to trade Future Receivables, as opposed to approved invoices for delivered sales, was transformational.

Overcoming
The
Challenge:

After giving InvoiceFair a deeper understanding our needs and a seamless due diligence process InvoiceFair arranged a carve out of previously restricted international debtors from Greentech Plastic’s existing ID facility. This enabled The Company to release cash immediately by selling 70% of these future receivables on the Platform.

InvoiceFair and Greentech Plastics prepared a Trading Memo for the pool of funders on the Platform. The Company controlled the cost of finance by setting a Reserve – the minimum price they were willing to accept for future Receivables.

Result:

This ability to access unrestricted working capital directly from the Capital Markets provides them with a real alternative to scale their business and will be central to growth plans going forward.

 

A plastics company in Limerick, Ireland continue to scale having successfully released working capital finance with InvoiceFair.

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