Advanon was created by a team of entrepreneurs from the technology industry and is now supported by experts from the field of banking and finance.
Currently Advanon is only available in Switzerland. In mid-2016, we will start offering our services in Germany and Austria.
In order to contact us, please write an email to [email protected]. Please bear in mind that many answers can already be found here in our FAQs. If you cannot find your answer here, write us an email or call us by phone. You can reach us Monday to Friday between 09: 00h and 18: 00h under the following number: +41 44 585 38 50.
Advanon is an authorized financial intermediary that is directly subordinated to FINMA (Directly Subordinated Financial Intermediary, DSFI) according to the Anti Money Laundering Act (AMLA).
Invoices financed thorough our platform currently range between CHF 1’000 - 200’000. Hence, the smallest possible investment is in the lower part of that range.
To ensure that our processes conform with money laundering requirements from FINMA, you as an investor must comply with certain criteria before your profile can be activated. A copy of a national swiss ID card have to be sent to us and a few questions answered. If making investments as a company, the UID of the company has to be provided as well.
To sign-up you can go to the sign up section and fill in your details. We will do a quick check of your application and get back to you within 24 hours.
To protect the integrity of the platform, in addition to the registration, an identity check is performed. For this purpose you as an investor have to provide a copy of a valid ID or a valid passport and either upload it to the platform or send it via email to [email protected].
You can access the platform with the email address and password, which you entered during the registration process. You can always change both your e-mail and password in the account settings. Before you can log in for the first time, your account first has to be enabled. You will be notified once your account is enabled.
If you decide to leave the platform, you can easily delete your profile in the account settings. Thus, all your data cannot and will not be accessed anymore.
Investors are charged a % of the returns that they make on the platform; as a standard this is set at 10%-20%.
When choosing to invest in a certain invoice you will be provided an IBAN to which you are to transfer the money through your online banking tool. The account that you transfer the cash to is controlled by Advanon in order for us to keep track of when the transactions are being made so we can proactively act in case of a delay.
Our service fee is directly subtracted from the repaid financing. Hence, you as an investor do not have to actively pay any service fees to us.
The repayment (the prefinanced amount, as well as your return on investment) should be transferred on the mutually agreed due date. It is possible that the repayment could be delayed. The reason for this is often a delayed repayent by the company's debtor.. Such delays are unfortunately quite a common problem for SMEs and a reason why they use Advanon. Delays of up to 30 days are not uncommon. Advanon will start legal actions against the company after more than 45 days of delay.
It is important to us, that our investors are aware of the fact, that they are prefinancing invoices and not investing in a traditional financial product with a guaranteed repayment date.
As soon as a repayment is not made on time, we will contact the company and look for a solution. We will also update you regularly about the status of the repayment.
The company, which is in delay, has to pay a default interest. The default interest rate is the annual ROI calculated on a daily basis. This default interest will be added to your investment.
Invoices are currently being financed in Swiss francs (CHF) only. In case the invoice is of a different currency, the currency risk remains with the company seeking financing and the amounts are to be repaid in CHF.
By splitting the financing of invoices into smaller parts, you as an investor are able to diversify your investments to a higher extent.
Invoices are divided into parts and each investor can choose how many parts of an invoice to finance. The number of parts depend on the invoice amount; the larger the invoice the higher number of parts.
Invoices are financed if the funds committed cover at least 50%. In case the 50% limit is not reached, the financing will not go through and the cash will be transferred back to each investor.
You will be instructed to transfer the funds to an account controlled by Advanon. Once we have gathered all the funds from the investors we will transfer the whole amount to the seller. When the seller has repaid the financing, we will transfer it back to each participating investor.
By Swiss law, a company is required to have a banking license in case it has more than 20 creditors. Thus, we limit the number of investors per seller by 20. The limit happens in the background so you do not have to worry about it.
Privacy is an important issue for us. Advanon assumes responsibility, that your data is optimally protected. The sensitization of employees, regular training and an appropriate internal organization are elements which ensure compliance with data protection.
In general, only you have access to your data. You can decide what data you would like to make available for us at Advanon. In case you choose to finance an invoice, your name will be available for the company seeking financing as a contract is formed.
To protect the integrity of the platform, in addition to the registration, an identity check takes place. All participants have to provide a copy of a valid ID or a valid passport, which has to be sent to [email protected] or uploaded to the platform.
Yes. If an SME uploads an invoice and you as an investor investor confirm that you will pre-finance it, a contract is formed. You as an Investor commit to provide the financing and the SME commit repay the financing plus the financing fees.
As with any other financial investment there is a certain degree of risk that you as an investor accept when going through with an investment. In case of a defaulted payment by the end-customer, the company that you have financed invoices for is obliged to repay you. The risk of default of the company seeking financing lies with you as an investor.
Before allowing any company to join the platform we perform a due diligence of the company as well as the directors of the company. We go through credit data from one of the largest external providers in Switzerland as well as the company's financial statements. You as an investor is presented with some of this data as well as the company's name for you to be able to make any checks you find suitable. If you choose to go through with an investment, you carry the risk of default of the company seeking financing.