Financing invoices via MyFinance mainly offers freelancers convenience

Making administration accessible for self-employed entrepreneurs, so they have a good overview of their expected income and expenses: that’s what MyFinance has to offer. And thanks to a partnership with Rabobank, freelancers can now easily request pre-financing for an invoice via the platform.

Annual figures close at hand

Wietse Klijn is the founder and owner of MyFinance. He had worked at Rabobank in the past, where he noticed that many self-employed entrepreneurs did not have their annual figures on hand, for example when they wanted to apply for a loan. “Freelancers often delegate their administration to a bookkeeper. Not only does that cost them a relatively large amount of money; it also means they don’t have a good overview of their finances. We aim to solve that problem with MyFinance.”

Maximum 1,000 invoices

MyFinance developed a special software that keeps track of everything for self-employed entrepreneurs: their expenses, income, revenue, VAT, and even facilitates comparisons with previous years or quarters. “We provide insight into their bookkeeping via software. MyFinance is ideal for self-employed entrepreneurs and companies that have a maximum of 1,000 purchase and sales invoices per year.

We also offer a bookkeeping service. Self-employed entrepreneurs can upload their data, and we’ll arrange a bookkeeper for them for a low fixed rate.”

Advance payment for invoices

And now, MyFinance is offering a new service: invoice financing. “It’s ideal for entrepreneurs who expect that market prices will increase, for example, or who need an advance to pay taxes or get a discount from suppliers if they can pay quickly.”

MyFinance uses Rabobank’s Invoice Financing for this new service. Entrepreneurs can request an advance for an invoice directly from Rabobank via the MyFinance platform. “When an entrepreneur creates an invoice via MyFinance, they get a notification asking if they would like to take advantage of Invoice Financing. The invoice may not be older than 10 days, and the amount must be between 10,000 and 100,000 euros. The entrepreneur must also be able to provide 12 months of transaction data. Once that’s all in order, they can have the amount in their account within 24 hours.”

Reliable and attractive

By partnering with Rabobank, MyFinance mainly aims to offer self-employed entrepreneurs convenience, Wietse explains. “There are a huge number of players active in this market, each with their own terms and costs. Since we work together with Rabobank, we’ve already selected a reliable partner with attractive terms and conditions for our customers. An entrepreneur doesn’t need to bank with Rabobank to take advantage of Invoice Financing. Together, we offer real added value.”