Invoice Discounting for SMEs - Businesses FAQ

How does the procedure work?
All online process through Velotrade platform.
  1. Register your company (first time only)
  2. Create a new auction for the invoice you want to discount
  3. Velotrade verifies the details
  4. Investors buy your invoice
  5. Funding is transferred to your bank account straight after the auction is complete

Who are the businesses Velotrade work with?
Velotrade collaborates with companies of all sizes and a variety of industries. You should be a company registered and licenced to operate in Thailand or other countries acceptable for the qualifying criteria set by Velotrade. Some of these criteria are verifiable trading history, satisfactory credit standing and total turnover.

Which countries does Velotrade support?
Velotrade clients work globally. Please contact us with the countries where your buyers are located.

Will Velotrade contact my buyers in order to process my application?
Velotrade will not contact your buyers in application processing. Any contacts, if needed, will obtain your prior approval.

Why does Velotrade implement the verification of invoices?
Velotrade needs to carry out the required due diligence on behalf of investors.

How much do Velotrade services cost?
Velotrade charges a percentage on the invoice amount. You can rest assured that Velotrade provides the most efficient service at affordable rate. Please get in contact to discuss your specific circumstances.

What advance amount will I get?
You will generally receive up to 80% - 90% of the invoice value.

How long does it take to receive the financed amount?
Upon satisfactory verification, the invoice is typically financed within 1-3 days.

Why should I switch from my current invoice discounting/factoring provider?
Banks and traditional factors lock in clients for a lengthy period and a full sales ledger. Velotrade offers competitive pricing, with no lock-in period or ledgers. Furthermore by using Velotrade you will secure an alternative source of funding besides traditional means. Simple operation process and simple documentation. A new experience!

Do I have to sell all my invoices?
No. Velotrade provides flexible financing solutions and you are free to sell the invoices you want to sell when needed.

What are the consequences when my buyer pays late?
You will be subject to interest charge on actual number of days the invoice remains unpaid.

What happens if my buyer doesn’t pay?
Velotrade may request you to return the advanced amount pending recourse or non-recourse agreement.

What happens if a dispute takes place over the purchased invoice?
Subject to the amount of dispute we may deduct this value from the balance held or you would need to replace the disputed invoice with another invoice.

How can I be sure that my invoices will be bought?
Velotrade reaches a diversity of investors thus aims to accommodate 100% of the invoices.

Who are buying my invoices?
Investors in Velotrade are professional investors who come from a variety of industries and background, thus allowing for a steady and continuous flow of financing in any economic condition.

What currencies does Velotrade accept?
Velotrade has multi-currency trading capabilities, especially with major currencies.

Is there a lot of admin and paperwork with Velotrade?
Velotrade does not require a separate ledger, contrary to the standard factoring facilities. Our sign up and verification process is simple and it is conveniently done online.


Get started with receivables financing for your Thailand export business

If you want to help your business expand, register with Velotrade today. We have a list of accredited investors ready to provide funding, so start the process now and get your SME on the right track. If you have any queries, you can contact our team online, or give us a call on +66 2 0261677.

Need more info? Contact us

Financing tomorrow

Velotrade Management Limited
Room 24, Units 405‑414,
Level 4, Core E, Cyberport 3
100 Cyberport Road
Hong Kong

T +66 2 0261677

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