Banfox

Founded in 2015 and based in São Paulo, Brazil, Banfox operated as a financial technology firm specializing in invoice financing solutions for small and medium-sized enterprises (SMEs). The company's core business was to provide working capital by allowing businesses to receive cash advances on their outstanding invoices. This service, also known as factoring, addressed a critical need for liquidity among SMEs in the Brazilian market by offering a way to anticipate receivables for products that had already been delivered.

The process involved businesses registering on the Banfox platform, submitting their invoices, and undergoing an analysis by the company to unlock the funds. This model aimed to provide a quick and straightforward mechanism for companies to manage their cash flow, enabling them to invest in growth without the delays of traditional payment cycles. The platform was designed to offer transparent rates, without the imposition of fines or default interest, which are common hurdles for businesses seeking capital.

Banfox was a funded company, securing investment from the institutional investor ACE Ventures through an accelerator/incubator round. However, despite its initial operations and securing funding, the company is now listed as out of business or deadpooled as of October 2020.

Keywords: invoice financing, factoring, working capital, SME finance, accounts receivable financing, fintech, Brazil, São Paulo, cash flow solutions, trade finance, supply chain finance, business credit, receivable discounting, ACE Ventures, financial services