Traditional invoice financing has some downsides. The current major issue with it is the lack of direct relationship between seller and buyer when the seller is purchasing invoice. The financier just relies on personal trust to the seller. As a result, the financier has no transparent data of the relationships between sellers and buyers. This condition disadvantages the financiers in case the invoice is not paid. Considering this issue, Invox Finance came up with the idea of developing an invoice lending platform that allows anyone to connect and interact with business transactions. The platform will facilitate transparency between any parties involved so a trusting environment is created.
The Project Roadmap
The project roadmap is divided into three stages. The first stage is the founder’s investment. The team of the project has had several years of experience in the invoice financing sector. In addition, they have established software used for conventional invoice financing called bespoke financing software. From this software, they have found out some drawbacks of a centralized system. In this stage, the founders of the company would spend 500 thousand AUD for investment for the project. The investment was primarily used to design the Dynamic Invoice Smart Contract. The dynamic digital format is used with the objective to foster transparency and authenticity within the platform. The investment was also needed to prepare the white paper, build an initial community, held an ICO, and develop a framework for the system.
The second stage of the roadmap is the finalization of Initial Coin Offering (ICO) and Minimum Viable Product (MVP). After the MVP is achieved, Invox Finance together with ABR finance will test the platform with ABR finance playing a role as the first client. In this trial, a use case will be demonstrated.
The last stage is the development of the platform itself. After ICO sales, Invox Finance will earn some funds. The funds will be allocated to completely develop the platform. Then, the platform will be introduced to the public followed by the creation of platform community consisting of traders, buyers, and investors. The aim is to reach a considerable amount of platform users. In order to attract users, the marketing team will be working on some promotional strategies including partnering with other parties and making the grassroots engagement.
The Team behind the Project
The major team of Invox Finance consists of co-founders, the board of advisors, and developers. There are three co-founders of Invox Finance. The first one is Alex Mezhvinsky, who has more than ten years of experiences in the digital finance industry and has been a co-founder and CEO of various global providers. The other co-founders are his brother, Adam Mezhvinsky, and Daniel Tang. Adam Mezhvinsky previously became a data analyst for ABR Finance and Commonwealth Government. Meanwhile, Mr. Tang is the expert in Fintech and Blockchain technology.
The team also has other great members specialized in software engineering, business development, and legal counsel. In developing the project, the team is assisted by the board of advisors consisting of nine people with each of them has different expertise. Seeing their background and experience, the entire team seems to be so convincing. The more detailed information about their profile can be accessed via LinkedIn.
Initial Coin Offering
Pre-sale is starting soon! The ICO sale is conducted with the goal to pre-sell affiliation to the system. By holding Invox Tokens, users are granted the Trusted Member Program that can be used to access the platform. There are some discounts offered for those participating in the Invox Sales. As it is starting in a few days, don’t miss it. Save the date. Here are the details.
There are two parts of the ICO sales; Pre-ICO and the ICO sale itself. The pre-ICO will start on March 15th, 2018 and end on March 24th, 2018. By contributing to the Invox pre-sale you can get 30% bonus. You can directly go to the official website and register for the bonus. Right after the pre-sale, the ICO sale will begin. It lasts for a month from April 15th to May 15th. This ICO sale is broken-down again into four stages in which each stage offers different bonus value. For example, if you buy the tokens in first two days, you will earn 20% bonus. However if you purchase the taken on the last days, there will be no bonus.