“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”
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.
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 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.
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.
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.