With the fundraising and mergers & acquisitions exercises take place amongst the blockchain use cases and crypto community, an Israel based technological start-up, INVioU explores the opportunity across the blockchain space by creating certain possibilities to bifurcating small businesses through the use of blockchain.
Let us not forget the currently the firm is in the process of raising almost $2 million to fuel its conceptual thought – project. The company is supposedly believed to have raised almost $300,000 so far.
Further speaking to the subject matter, INVioU said in its statement that “an impressive team of entrepreneurs who have extensive experience and know-how in the fields of financing, the blockchain, and fintech”.
The team comprises of Dror Shapira, the chief executive and the son of Israel’s State Comptroller – Yosef Shapira, as well as Yair Zehavi, chief product officer that are more inclined to set up the Israeli national savings exchange where he served as deputy CEO and VP of operations and products.
The offerings of INVioU support any businesses involving electronic invoices. It actively focuses to address SME’s current need in order to attain ‘Quick Cash’.
Amid this, the company further elaborates the concept saying that “Invoices cannot be counterfeited on the blockchain as the information is encrypted and transparent to all permission parties, minimizing the risk and establishing trust between trust-less participants, the issuer of the invoice and the credit provider.”
The further company commented “Onboarding is conducted through a simple customer registration and a transparent interface to the digital invoice system. The initial onboarding process, including the invoice history recording on the blockchain platform, credit scoring, and financing of the first invoice, takes only one day, and recurring invoice financing is much faster, significantly quicker than is customary in this field.”
Let us not forget that the entire system is designed such that it is fully compliant with the European General Data Protection Regulation (GDPR).
With this, the entire system is under the preliminary mode at present and is expectedly become active at the beginning of 2019. Besides this, a pilot version will be evolved with its strategic partnership in the second quarter in 2019.