23 August 2017
Visit http://response.ncr.com

Invoice financing startup DueCourse flops

31 July 2017  |  6815 views  |  0 Dead end

DueCourse, a fintech startup in the crowded invoice financing space has gone into administration less than a year after pulling in a £6.5 million funding round.

Founded in 2014, the Manchester-based firm called in administrators Leonard Curtis earlier this month.

“We have decided to close one of the companies in the group as part of a planned restructure. Customers haven’t been affected,” one of the three co-founders, Paul Haydock, told TechCity News.

Linking to a company’s online accounting platform, DueCourse’s software was designed to assess and unlock cash tied up in unpaid invoices.

DueCourse raised £1.25m in equity funding and £5m of debt finance in September last year, moving in to swanky new office space in central Manchester and eyeing up a further £10-15 million raise in the coming months.

Prominent backers included founders and investors in Zoopla, LoveFilm, TransferWise and LinkedIn.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SME invoice financing startup Qupital secures $2 million seed funding

SME invoice financing startup Qupital secures $2 million seed funding

18 May 2017  |  4624 views  |  0 comments | 3 tweets
Zopa's Giles Andrews to take the chair at MarketInvoice

Zopa's Giles Andrews to take the chair at MarketInvoice

20 March 2017  |  3893 views  |  0 comments | 2 tweets | 3 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.vasco.comdownload the paper now

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20466 views comments | 43 tweets | 83 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13383 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11991 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11252 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11116 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job