Our services are being financially supported by the European Union under the Programme for Employment and Social Innovation (EaSI).
/ How does our platform work /

Deliver goods or services to your customer

Register online in Flexidea portal

Sign the agreement remotely

Upload an outstanding invoice online

Get your payment within 24 hours

FLEXIDEA is an up-to-date invoice financing solution (alternative to factoring). This online platform allows you to forget about the unsettled accounts.

No more paper work, no more waiting. Just upload your invoice and get the payment within 24 hours!

Discover how simple, fast and groundbreaking it can be compared to banking business loan and factoring.

Welcome to FLEXIDEA!
Invoice financing

is the best way to concentrate on business, not on payment deadlines

The service is fully online -

no time wasting

The cooperation is transparent -

no annual or registration fees

The product is independent

no need to go to bank

/ Founders /
Vladimirs Fogels
Marija Sutirina

Has a diploma of Law of the University of Latvia; was on a leading position in charge of 77internal control system functioning, risk transactions and compliance at the bank in Estonia; previously was in charge of legal departments in many banks in Latvia. Taking in consideration that factoring in Latvia is weak, he together with Marija set up FLEXIDEA with the purpose to offer additional financing solutions to Latvian entities.

Has a Master’s degree in business administration (MBA). Worked in the banking industry since 2000. Was a member of the management board in charge of customer servicing and relations in many banks in Latvia and Estonia.

/ FAQ /
Who needs invoice financing the most?

The invoice financing service is primarily suited for small and medium-sized enterprises. We make it possible to avoid long payment terms of the outstanding invoices.

To use the service your company should have a trading history of 6 months and revenue for this period of at least EUR 30 thousand. You also should not have any on-going lawsuit and/or tax issues.

How does invoice financing work?

Invoice financing is designed to advance the cash flow by selling the invoice. You will receive the payment within the 24 hours instead of standard 15-120 days. The whole process is very fast and convenient:

  1. You register and identify yourself online in FLEXIDEA portal;

  1. You sign the Agreement with us remotely just ONCE using one of the integrated tools (e-signature, Mobile-ID or Smart-ID);

  1. You issue and submit an invoice to us using the Portal (only for delivered goods; advance payments are not permitted);

  1. We evaluate you and your debtor within 24 hours;

  1. If the debtor’s background meets our requirements, we (portal on behalf of the Customer) send the debtor notification about the changes of requisites of the invoice and receive the confirmation (whether the goods have been delivered and accepted for payment thereof) from the debtor;

  1. Your invoice gets financed.

  1. The debtor pays directly to our account on the agreed terms.

Is the service fully online?

Yes, it is. You don’t have to go somewhere or even call. The service is fully online, but navigation – intuitive. You will enjoy working with it at the time of your convenience.

What information is required to start?

Only details of your company. To give you the best offer, we can also ask you to upload bank statements for the last 6 months.

Why the financial information is required?

We can ask for financial information to assess your credit risk and get acquainted to your company. The provided data and uploaded documents will be accessible only to our analysts and not be shared with third parties. You can read more about the confidentiality in Privacy policy.

How many invoices can I sell?

You can sell all the invoices you need. Just enter the Portal, upload the invoice and get your money paid.

Can I finance invoices issued to a private person?

We finance invoices issued only to companies and public sector. We do not finance invoices issued to private persons or individual entrepreneurs.

Can I finance invoices for my customers abroad?

Sure. We currently accept the invoices for debtors registered in European Union countries.

What are the standard terms?

Invoice payment terms: 15-90 days;

The minimum Invoice Value – EUR 500;

Limit for a customer – up to EUR 50 000;

Financing of 70% to 100% of the outstanding invoice amount.

How much of my invoice are you going to finance?

We are able to finance up to 100% of the outstanding invoice amount. Once your invoice gets financed, we will deduct the discounting fee and remit the rest of the amount to your account. Fee structure is very simple and transparent.

Do you contact my customer before I sign the agreement with you?

No, we do not.

If the payment details of the invoice should be changed?

You should not change details of the issued invoice. We (portal on behalf of the Customer) will send the debtor notification about the changes of requisites of the invoice. As soon as we receive the confirmation (whether the goods have been delivered and accepted for payment thereof) from the debtor, we will transfer the cash for your invoice to your account. All payments by the debtor related with the assigned invoice must be transferred to our account specified in the notification sent to the debtor and you put your best efforts that the payment is remitted in this specific manner.

What are the expenses?

Registration on the Portal is free. Also, we don’t require minimum annual fee and fees for contract changing and reports. The financing fee starts from 1% monthly (min EUR 30).

For example, you submit a EUR 5,000.00 invoice. Advance rate is 100%.

The payment is due in 30 days and the monthly discount is 2%.

Discounting fee = EUR 100.00

After discounting you will receive EUR 4,900.00 immediately.

What kind of requirements do you have for my customers (debtors)?

Very good financial background. A trading history of 3 years and annual revenue of at least EUR 1 mln.

What happens if the debtor does not fully pay the invoice?

We offer an invoice financing with the redemption obligation of the customer, which means that you have full responsibility for the payment of the invoice by the debtor and will cover the invoice amount if the debtor doesn’t. If the debtor (your client) does not pay the invoice in the due date or pays the invoice partially, the remaining sum is calculated by us and passed for payment to you. The repurchase term is the due date stipulated in the Invoice + 30 (thirty) calendar days.

What is the factoring and factoring contract?

According to the Commercial law a factoring contract is such a contract, by which the customer undertakes an obligation to transfer money claims of a client against a third party (debtor) known thereto, as well as to fulfil other commitments specified in the factoring contract to factor for the agreed remuneration.
Hence, factoring is a business loan solution, which allows to increase working capital by transferring claims for already supplied goods or rendered services.

Advantages of Invoice financing

First: banks usually do not offer factoring with small limits. FLEXIDEA offers invoice financing starting from EUR 500.
Second: banks charge a fee for a contract signing - 0,5% - 1,5% from the total factoring limit. FLEXIDEA does not charge such a fee.
Third: banks charge a lot of different additional fees, which FLEXIDEA does not charge, for example fee for a limit increase, for advance rate change, for buyer limit consideration, for invoice processing, for factoring reports etc.
Wherein the customer is not allowed (1) to change the buyers list, (2) to choose, which invoices he/she wishes to finance, (3) to change the deferred payment term without the prior approval from the bank.
On our portal the Customer can (1) choose invoices he/she wishes to submit (i.e. to finance); (2) agree with its customers on a deferred payment term and change it anytime; (3) overlook all transactions anytime.