Platform Black is an online marketplace for invoice trading and supply chain financing ("SCF"). It matches businesses which have invoices to trade with funders seeking to provide funding to UK-based SMEs, without imposing entrance/exit fees and tie-in contracts. The funders compete with each other in a reverse auction process to provide the most competitive rate of financing, while businesses receive an immediate cash advance instead of having to wait a period of time for their invoices to be settled.
(SCF optimises cash flow by allowing a business to lengthen the time in which it pays its suppliers, while at the same time enabling the suppliers to be paid early. A third party pays the supplier, at a small cost to the business and a discount to the supplier.)