Updates

Tungsten - Enters into "multi billion dollar" financing

January 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in electronic invoicing specialist Tungsten took off after it reached agreement with Insight Investment Management, part of BNY Mellon, to provide financing for its invoice discounting operation, with the facility expected to run into “several billion pounds.” Tungsten already offers invoice financing to UK suppliers on the network and the new money will see it extend into other territories. Some US$200bn worth of invoices presently flow over Tungsten’s OB10 network so if just one-in-10 took up the offer it would equate to financing US$20bn a year. But with money lent for a short duration and rolling over around 6 times a year it requires much less capital.The agreement removes considerabl ...

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