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Comparing invoice finance providers? Try Penny, it's free.

Explore leading invoice finance providers using the comparison tool below, and when you're ready, discover the benefits of Penny for yourself. Setting up an account is free, and it always will be. 


Penny, Satago, Hydr and Triver 

Compare product features

Selective invoice finance
Selective / full ledger invoice finance
Selective invoice finance
Selective invoice finance
Factoring / full book
Advance Rates
Up to 85%
Account Pricing
£25 - £45 pm
Available to
Limited companies / sole traders
Limited companies
Limited companies
Limited companies

Compare eligibility and requirements

Min Trading Term
Selective: 6 months / Full ledger: 12 months
12 months
24 months
Min Annual Turnover
Selective: £100,000 / Full ledger: £400,000
Credit Checks
Debtor focused
User and debtor focused
Debtor focused
User and debtor focused
Payment Terms
30 - 90 days
10 - 90 days
30 - 90 days
15+ days

Compare terms and processes

Min - Max Invoice Value
£500 - £200k
£500 +
No cap
£1,000 - £100k
Fixed processing fee calculated on an invoice-by-invoice basis
2 - 3.5% per 30 days on advancement, calculated by risk scoring
Fixed fee calculated on an invoice-by-invoice basis
Percentage discount fee charged per day of use, applied on invoice value
Approval Time
Under 3 hours
Dependent on underwriting approval
Funding Turnaround
Within 24 hours
Within 3 hours
Within 24 hours
Not stated
Disclosed to debtors
Disclosed to debtors
Disclosed to debtors
Who are we
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Supporting tens of thousands of small businesses

While features like instant withdrawals are a given, what truly sets Penny apart from other UK invoice finance providers is our unmatched accessibility.

Unlike most, we don't require a minimum turnover or trading history to fund invoices, making Penny the ideal solution for sole traders, startups and small businesses alike.

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On-demand access

Freedom to manage your finances anytime, any place. Gain 24/7 account access and monitor your business' finances via the digital dashboard.


Instant debtor pre-approval

Speed up withdrawal requests and find out how much funding you can access from client invoices with our in-built Quick Quote tool.


Streamlined payments

View past and present client transactions, neatly organised and easily accessed via your account dashboard.


Real-time invoice tracking

Monitor the progress of client invoices with ease. The Penny platform provides live updates with no-obligation quotes offered in under three hours.


Connect via Open Banking

Effortless banking integration that ensures safe and secure payments. Money in your business bank account within 24 working hours.


Outsource collections

Let our specialist team take charge of collecting debtor payments, leaving you with more time to focus on growing your business.

Find the best invoice finance company for your business,

I'm a sole trader looking to finance outstanding invoices:
I don't want my customers to know I'm funding their invoices:
My business has been trading for less than 6 months:
My company has suffered from poor credit in the past:
I don't want to pay any account fees:
I've previously struggled to receive finance due to company turnover:
I own a medium sized business and I want to scale with invoice finance:
I'm a director of a startup and need access to working capital:
I need support with customer payment collections:

If Penny ticks your boxes, it's time to open a free account.

Frequently Asked Questions

  • What types of businesses can use Penny?
    Sole Traders and Limited Companies registered in England and Wales.
  • Are my invoices eligible for financing?
    Your invoices could be eligible for financing if they meet the below criteria: B2B invoices for completed work and/or delivered goods Minimum invoice value of £500 Maximum invoice value of £200,000
  • Do you require accounts/bank statements?
    No, unlike the majority of other UK lenders, we do not ask for business account records or bank statements. Our model of invoice finance utilises technology to provide fast funding, and all we need from you is: Submitted invoice Debtor contact details (email or mobile) to verify the submitted invoice
  • What is the difference between a Penny and Penny Plus account?
    A Penny account is a free member profile that gives you complete access to our selective invoice finance product. You can register your profile online in just a couple of minutes, and after completing Identity Verification, you can begin submitting invoices for funding straight away. Penny Plus will become our paid monthly subscription service, however this is still under development and not currently available.
  • What is invoice finance?
    Invoice finance is an umbrella term for funding that enables businesses to borrow money against the amounts due from their customers. Lenders offering this model of finance advance a percentage of the requested invoice value, in return for a small fee. The main types of invoice finance include invoice factoring, invoice discounting and selective invoice finance.
  • How does invoice financing work with Penny?
    Penny offers selective invoice finance, driven by technology. Unlike traditional models of financing, our UK spot factoring solution offers businesses a streamlined experience without requiring long-term commitments or lengthy paperwork. Penny is unique in that it has been developed for inclusivity, helping traditionally underserved business types (sole traders, micro-businesses etc.) accelerate cash flow with payment terms that benefit their growth. With flexibility at the core, we give businesses a centralised platform to select and advance invoices with ease. Leveraging technology, we provide real time data so that Penny users can check the status of their invoices at any time, providing decisions in under three hours. Once the invoice details have been verified, Penny pays 100% of the invoice value into the registered business bank account, minus a small fee.
  • Who can I invoice with Penny?
    Penny advances B2B invoices to Limited Companies. In some circumstances we may be able to consider other business entities, please contact us to discuss your needs.
  • Can I retain credit control for submitted invoices?
    At Penny, we take responsibility for collecting payment from your customers. Relinquishing credit control enables you to receive the total invoice value upfront, and reduces time spent within your business on payment processes.
  • What happens if I have already invoiced a client myself?
    You will need to raise a new invoice through Penny. After setting up your account, your account manager will advise you on how to credit note the original invoice with your debtor.
  • Can I use Penny to pay my bills? (Also known as reverse invoice financing)
    No, we only facilitate forward invoice financing on goods / services supplied.
  • What contact information do you need for my customer?
    When you are completing your customer's details, it is best to provide contact details of a member of the accounts team if possible, rather than a generic accounts email address. This expedites validation of the invoice, so you get paid faster.
  • Can I invoice my own company, or a company within my group?
    No, you can not have any business interest in the company you are invoicing.
  • What is the Penny Quick Quote tool?
    Our Quick Quote tool is featured within your account dashboard under 'Get Started'. To use it, simply enter your customer's company name and we'll run a couple of quick checks to confirm whether they're eligible. Bear in mind that Penny's algorithm looks at the most recent data available, so even if we can't offer invoice factoring on an invoice for a particular company today, that could change in the future.
  • I got an approval with Penny Quick Quote, however my invoice has been rejected, why?
    The Penny Quick Quote tool only considers the invoice amount and the debtor (the company paying the invoice). However real-time decisions also look at other factors, including the terms and nature of the invoice. Please get in touch with a member from our client support team for more details.
  • My invoice has been approved, what happens next?
    Once Penny has approved your invoice and it has been issued to your customer, a member of our team will quickly get in touch with them to validate the invoice and get your funds advanced. The wide majority of transactions are validated in under 3 hours, and paid out within 24 working hours.
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