Client story - AN Transports
AN Transports is a Latvian international freight company with 22 years of experience and a fleet of 45 trucks, making daily deliveries to European countries such as Italy, Germany and Switzerland.
Situation and challenge
AN Transports, which has worked in international freight for 22 years and maintains a fleet of 45 trucks, regularly works with internationally known companies, including Coca-Cola. To fulfil orders and ensure uninterrupted operations, the company needed additional working capital, especially for buying fuel, the cost of which rose by 20% per month (reaching around EUR 200,000 a month).
Waiting for the standard post-payment term (30, 60 or even 90 days) set by large customers meant freezing capital and endangering cash flow amid a sharp rise in fuel prices.
The Scandipay solution
The company turned to Scandipay to finance its issued invoices.
1. Quick assessment: Scandipay primarily checked the solvency of the service recipient and confirmed the fact of the transaction, rather than assessing AN Transports itself.
2. Prompt payout: Immediately after the documents were agreed, within one business day AN Transports received the entire invoice amount (100% upfront) in its bank account.
Result
Thanks to Scandipay’s prompt financing, AN Transports did not wait up to three months, but immediately directed the funds to fuel purchases and day-to-day operations, maintaining its usual pace of work and its ability to take on new orders even in changing market conditions.
“Scandipay’s advantage is that we can receive the entire invoice amount at once. Other financiers pay out only part of the amount and the rest after the customer has paid. This lets us secure the working capital needed for daily operations, especially for buying fuel.”