InvoiceMate’s new Decentralized Invoice Factoring Protocol or DeFa is based on a new consensus mechanism - Proof of Invoice, that offers stable and secure yields backed by real-world revenue, a new DeFi Primitive that Connects Real World Businesses with Crypto Liquidity. Transforming traditional invoices into tokenized RWAs to unlock growth and investment opportunities
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Web3 Advantages
The shift from traditional invoicing and payment systems to a blockchain-based solution removes the need for third-party intermediaries. This transition enables direct and secure interactions between businesses and their clients. Our canisters offer functionalities like invoice creation and management, automated payment systems, and financial services directly on the blockchain, fostering independence and transparency.
How is it Built?
DeFa is built on the ICP network, with each product serving specific functionalities:
- Loan Origination System - Blockchain-based Loan Asset Origination, API development, SME onboarding, KYC implementation, and secure data storage on the blockchain
- Know Your Invoice (credit scoring) - The module involves developing a versatile credit scoring module that accommodates multiple use cases. It calculates credit scores based on specific use cases, deploying the data on the blockchain. Additionally, the phase includes risk analysis and due diligence processes, enhancing transparent audit trails and efficiency in loan application processing through blockchain integration.
- RWA Marketplace - Investor onboarding initiates, ensuring successful integration with the Loan Asset Originating System (LOS). KYC and KYB processes are diligently completed, and investor data is securely deployed on the blockchain. Wallet development follows, providing users with a seamless platform. The asset tokenization feature encompasses tokenization, listing, purchasing, repayment, and token burning, fostering dynamic financial interactions
These canisters are integrated with a user-friendly front end, facilitating easy access and management.
Internet Computer Superpowers
The ICP blockchain’s robust architecture allows seamless handling of complex invoice and payment data and its corresponding financing; we use its stable memory to handle data. It enables HTTP outcalls for direct communication with our application simplifying development and maintenance.
Go-to-Market Strategy
InvoiceMate plugs into digital supply chains and B2B marketplaces to onboard SMEs in Bulk. It enables high yields from real-world companies for institutional investors and retail investors.
Monetization Model
The primary monetization strategy involves commision on all loans financed through the platfrom. This model ensures a sustainable revenue stream while providing immense value to users.
Project Status
Currently, InvoiceMate has:
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Signed a $400 Million contract for recurring invoice financing
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$275+ Million worth of invoices tokenized
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$50.8+ Million in invoices factored
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Over 2100 Businesses registered on the platform.
Future Plans
Looking ahead, InvoiceMate plans to expand its services by cross-marketing our solution with the ICP community to offer them stable and secure yields!
Resources:
Demo Video:
Invoice Management system:
Loan Origination System:
RWA Marketplace: