How does the auction work?
Once you have uploaded an invoice it goes to auction. Many different investors place bids of varying sums and interest rates and we sort out the best deal for you. You don't have to do anything, it's all automated.
Investly uses a reverse auction where bids get sorted from lowest to highest based on the interest rate.
Let's say there is a £20,000 invoice being financed in the auction:
The blue line represents the sum at which the bid is fulfilled.
Once the invoice amount is fulfilled, investors are still able to make bids but they have to be lower than the highest competing bid in order to be considered.
The invoice gets financed by the last interest rate filling the auction, which, in this example would be 1.7%.
