Euler Hermes Announces Strategic Partnership with APiO to Provide Same-day Funding of Invoices for Small and Medium Businesses

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Euler Hermes makes strategic investment in APiO Inc.; announces partnership to launch first-of-kind, invoice-based, working capital solution called APiO.EarlyPay

James Daly, president and CEO of Euler Hermes Americas, explained, “Partnering with APiO further demonstrates Euler Hermes’ position at the forefront of innovation and investment. We’re excited to work together with the APiO team to create new ways to leverage our industry leading credit insurance p

Euler Hermes, the world’s largest trade credit insurance company, today announced an investment and strategic partnership with APiO Inc., a Salt Lake City-based FinTech company, to facilitate an innovative working capital solution called ApiO.EarlyPay™ for small- to medium-sized businesses (SMBs). ApiO.EarlyPay enables SMBs to address cash flow challenges in an entirely new way. By directly integrating with leading accounting systems, SMBs can register and get immediate funding on eligible invoices in just a few minutes. ApiO.EarlyPay leverages the power of big data, AI and machine learning to better understand the risk and creditworthiness of a SMB and its customers. This new EarlyPay solution allows APiO to discover, score, insure and fund invoices in less than a minute. Eligible invoices are insured through APiO’s partnership with Euler Hermes.

According to APiO CEO William Borghetti, “Our proprietary technology allows APiO to simultaneously provide same-day funding for SMBs and create a totally new, high-quality asset class for institutional investors. EarlyPay represents a game-changing way for SMBs to get working capital. The SMB market is desperate for a simple and easy working capital solution. Our solution is fast, simple and easy to use, and can fund in the same business day.”

James Daly, president and CEO of Euler Hermes Americas, explained, “Partnering with APiO further demonstrates Euler Hermes’ position at the forefront of innovation and investment. We’re excited to work together with the APiO team to create new ways to leverage our industry leading credit insurance products.”

Despite the enormous amount of excess capital available on the sidelines, access to working capital remains the number one business challenge for SMBs. The impact of this lack of business credit is dramatic. It creates a challenging environment for SMBs which spend, on average, 33 hours just to apply for a loan. In addition, approval rates nationally average 23 percent. Considering 85 percent of the $30T in B2B commerce is conducted on terms (with delayed payments from customers), ApiO.EarlyPay solves a massive cash flow problem with a simple and easy to implement solution for SMBs.

Daly continued, “This innovative application of credit insurance creates a win for APiO Marketplace investors who will now be better able to manage risk and improve overall portfolio returns.”

Euler Hermes provides credit insurance to APiO Marketplace investors to protect against potential default by the SMB’s customer. This credit insurance component can be leveraged across an entire investment or across individual portfolios, depending on specific needs. APiO leverages the Euler Hermes’ Single Invoice Cover API to automatically quote insurance, bind coverage and administer policies for APiO
Marketplace investors.

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Laura Crovo
Euler Hermes
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