It seems that the Venture Finance experiment to automate the whole factoring process and offer a stripped down facility online to the smaller enterprises has not been successful and is being closed down.

It was an interesting concept starting off with an online application form but it would appear that the applicants / clients were of poor quality and the whole concept was causing too many problems and losses so had to end.

Where are the companies who have been turned down by everyone else going to go now 🙂