The Receivables Exchange, an online platform for selling accounts receivables, announced a major milestone today. It has provided $1 billion in funding to small and mid-sized businesses since its inception:
“Since the marketplace launched, nearly 2,000 small and mid-sized businesses have signed up to sell accounts receivable on The Receivables Exchange. The largest single receivable sold to date is in the millions of dollars and the smallest is 30 cents.”
Companies using The Receivables Exchange can be found in all 50 states and span across 50 industries.
To learn more about The Receivables Exchange, watch its FinovateFall 2010 demo.