NOWaccount Network Corporation

NOWaccount Network Corporation, based in Atlanta, GA, offers innovative invoice financing solutions that enhance cash flow for businesses in the B2B and B2G sectors, enabling them to manage their finances more effectively. NOWaccount Network Corporation specializes in providing invoice financing solutions. Founded in 2010 in Atlanta, Georgia, the company has completed 4 deals, with its most recent deal occurring in August 2021. The company raised USD 25.

00 mn in VENTURE DEBT financing, co-led by Brigade Capital Management and Virgo Investment Group. The total amount raised to date is USD 4. 00 mn. Lara Hodgson, the founder, has a background in entrepreneurship, indicating her experience in establishing and leading businesses.

NOWaccount primarily offers invoice financing solutions designed to enhance cash flow for businesses operating in the B2B and B2G sectors. The core product enables businesses to sell their customer invoices to NOWaccount, facilitating immediate access to cash without the burdens typically associated with traditional lending, such as personal guarantees or collateral. This financial tool aims to alleviate cash flow constraints that many companies experience due to delayed customer payments, thus allowing them to meet payroll, invest in growth opportunities, and maintain operational stability. The company serves a diverse clientele, including staffing agencies, manufacturing firms, professional services, and suppliers, with a focus on U.

S. businesses generating substantial monthly receivables. The services are positioned within specific markets that require rapid funding solutions to optimize their operational efficiency and support their growth trajectories. NOWaccount generates revenue through transaction fees charged for its invoice financing services.

The pricing structure includes a flat fee that varies based on the net terms of the invoices, with charges ranging from 3% to 8% depending on the length of the payment terms—typically between 15 and 120 days. When a business opts to utilize NOWaccount’s services, it submits customer invoices for approval, and once approved, the business receives funds via ACH, effectively converting receivables into immediate cash. This model allows businesses to offer favorable payment terms to their customers, enhancing sales opportunities while mitigating the risks associated with late payments. By providing a hassle-free financing solution, NOWaccount streamlines cash flow management, allowing companies to focus on growth and operational efficiency.

In August 2021, NOWaccount Network Corporation raised USD 25. 00 mn in VENTURE DEBT financing, which will be utilized to expand its business and market reach. The company aims to enhance its product offerings and explore new geographic markets to foster growth.