Find out documents and business requirements needed to be onboarded with Velotrade for financing.

Seller Onboarding Process

Feb 2, 2023

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Seller’s onboarding is simple, all-online and free. In this article, we will walk you through the onboarding process and explain the required documents for a successful application.

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Regulated and Digital

We comply with regulations rigorously to guarantee the safety of our platform users – all of our clients must go through the KYC (Know Your Client) process.

Such background check is in line with global standards to prevent counterparts involved in illicit activities such as money laundering, identity fraud and scams.

To make the experience great, we eliminated the lengthy paper-based workflows, from signatures to document submission; it’s all digital.

Less paper, happier environment.

The good news is that the KYC process only happens once!

Velotrade holds the Money Lender’s Licence (2356/2022) and is the only trade finance platform with SFC Type 1 Licence (CE Ref #BJL007).

3 Steps for Onboarding

  1. Get in Touch
  2. Upload Documents
  3. Receive Cash

Get in Touch

At this sign-up stage , please tell us your name, company name, and email so we can initiate the onboarding and set up a discussion with you.

We offer collateral-free financing because we conduct credit reviews (by asking many questions) by understanding how you trade and do business.

The better we understand your business, the faster we can offer a financing solution suitable for your needs.

A dedicated team member will be assigned to your case and follow up on your application progress.

Upload Documents

At this stage of the KYC, we validate the business certificates and ownership structure.

While we perform most processes internally, we also work with third-party risk management service providers.

In this way, we can give a fair assessment of each case.

If all the documents are cleared, the verification process should not take longer than a few weeks.

Velotrade might, at any point, ask for extra documentation or information.

Good to Go!

Once the verification is completed, you can access financing whenever you need it!

Brought to you by Velotrade, a marketplace for corporates to access financing.

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Get a free consultation today, or read more about the FinTech Experience.

Information and Documents Required

After the initial consultation, the company must provide key shareholders’ documents and information as required.

Key Shareholders

Any shareholder holding over 25% up to Ultimate Beneficial Owner is required to provide the following documents:

1. Personal ID card or passport
2. Personal proof of address such as utility bill
3. Corporate shareholders will identify themselves with company documents as well

Company-level

The following documents are also required to assess the company:

1. Business registration certificate or equivalent
2. Annual Return
3. Audited Financials
4. Certificate of Incorporation
5. Memorandum and Articles of Association
6. Company’s director(s) information
7. Bank account details (can be provided at a later stage)

Depending on the case, other supporting documents might be required.

For example, an organisational chart can further assist us in understanding the company structure and its directors.

Get Onboard with Velotrade
All-online
Collateral-free
Flexible
Transparent

Financing is just a few steps away. Our specialist will be on your case shortly.