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UniCredit invests in dynamic discounting startup FinDynamic

UniCredit invests in dynamic discounting startup FinDynamic

UniCredit has taken a minority equity stake in FinDynamic as part of a wider partnership with the Italian startup to boost working capital options for the bank's corporate clients.

FinDynamic specialises in dynamic discounting programmes, allowing firms to offer their suppliers early payment of their invoices in exchange for a discount. The discount is directly applied to the total amount of the invoice and its value changes in relation to the number of days discounted from the original invoice's due date.

FinDynamic's proprietary technology allows both the buyer and its suppliers to automatically view invoices through a web-based or mobile platform and select approved invoices for early payment.

UniCredit is tapping the system and is already rolling out the option to its corporate customers in Italy.

Francesco Giordano, co-CEO, commercial banking, Western Europe, UniCredit, says: "We believe that the service offered by FinDynamic is the right fit for our clients' and their suppliers' working capital needs in the current market environment, providing a true value-add for all parties."

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