One more asset in DeFi: Lendflo uses Centrifuge to finance SME Invoices
Our partner Lendflo just announced that they use Centrifuge to support UK businesses with fast and affordable single invoice financing. Centrifuge offers the decentralized platform to originate SME invoices and mint NFTs representing the ownership of such invoices. Tinlake is Centrifuge’s asset-backed, smart contract lending platform. Both give asset originators — like Lendflo with their user’s invoices — simple, direct and decentralized access to DeFi (Decentralized Finance). For us, this is another important step on the path to further minimizing trust into real-world assets and to bridge the gap between the non-crypto world and its assets and decentralized financing. After starting with real-estate assets, music streaming revenues, or logistics invoices, SME invoice financing with Lendflo adds another exciting use-case.
LendFlo’s mission is to make finance more affordable and accessible to all. Their users get access to instant cash on outstanding invoices to inject vital funds and grow their business to new heights. The Lendflo team partners with us to prevent double funding, provide better transparency and allow instant financing for single invoices. The decentralization of data, value, and logic makes the entire system already more resilient but we aim for more. We at Centrifuge continue to work with all our partners like Lendflo on the asset origination side, or the Maker community on the lending side to open DeFi to those who really need it. All businesses independent of size, location and industry should get equal access to financial services. A fully transparent, unstoppable financial system without centralized financial institutions as single-point-of-failure coming with instant processing at much lower costs and open for everyone is what decentralized and open finance stands for. We already explained why we think that the coverage of real-world assets is crucial for DeFi. Coming blog posts will provide more background on how to minimize the trust in real-world assets further to help them scale in the DeFi ecosystem.