Any SME business owner will understand as you grow you will suffer from Cash Flow, Overtrading, Growing pains call it what you like. But the fact is you only have limited options to fund t... See more
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We first contacted URICA at 14.51 on Monday 23rd October. We received our login details to start trading at 18.47 on Friday 27th October. We thought this was an outstanding result. We found the c... See more
I started my business importing product from China we had no Urica then...wish we had. Without Urica l doubt if we would have succeeded. They are so friendly understanding and flexible. If you use wha... See more
The service is good but the client en boarding can be tricky. Although something like platform black is easier to execute URICA now provide the only PG free way or executing this sort of spot inv... See more
Company details
Information provided by various external sources
URICA injects cash into supply chains to empower businesses of all sizes to pay and get paid on the terms of trade they want with zero risk and zero debt. It was designed from the ground up, reimagining how business payments should work to address once and for all the problem of late payment within SME supply chains. URICA’s online platform and strategic partners mean that for the first time the benefits of supply chain funding can be available to every business in a supply chain, even the smallest.
Contact info
3 Queen Square,, WC1N 3AR, London, United Kingdom
- 0207 193 7616
- info@urica.com
- urica.com
At last, a real alternative to factoring/invoice financing
I came across URICA whilst trying to find a way of funding fast growth for one of my clients. Being a manufacturer in their first year of trading, they were struggling with paying upfront for materials while trying to win new business and needing to offer good credit terms.
URICA solved the problem in several ways because their lending decision is made on the credit rating of your clients - not yours (an amazing plus for early stage businesses). Also, the of the flexibility of being able to vary the terms not just by individual client, but also by invoice means that you can customise your terms for all types of clients.
Working with URICA - and I must say, their staff are super helpful - has meant my clients can concentrate on growing their business without worrying about how they'll finance it!
March 24, 2017
Unprompted review
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Very useful but not perfect
The service is good but the client en boarding can be tricky.
Although something like platform black is easier to execute URICA now provide the only PG free way or executing this sort of spot invoice trading.
Good on them.
March 20, 2017
Unprompted review
Staggeringly disappointing.....
So it sounds too good to be true.... well...it is...
Staff communication is poor at best, false promises of credit for your customer before they are even checked. No knowledge of the product they are selling and wishy washy answers. So if you have customers that are comfortable with signing a closed agreement with Urica to pay them regardless of you supplying them the product or not then this is the product for you... it gives your customer no protection whatsoever and thus if they know anything about business (lets be honest, most do) they will never take such risk. If they have any disputes, they must still pay, regardless. Hence why its too good to be true and completely wasted several hours and days to achieve nothing.
We are a manufacturing company with many big orders and required Urica to bridge our cashflow gap from the point of purchase of raw materials to point of delivery to our customer, We currently Factor which means we have to fund this ourselves.
January 11, 2017
Unprompted review
Reply from URICA
Hi Paul,
Thanks for your feedback and sorry you had a bad experience. We work with many businesses who need early payment of their invoices or certainty of payment. However, we can only provide early payment once the goods have been dispatched. Sorry if this has not been highlighted to you early enough in the process, which we understand was the key reason for disappointment. We have now reviewed the process to make sure such issues don't happen again. URICA is transparent: your customers will always have the right to raise any concerns before they approve the invoice to prevent any subsequent issues. Many suppliers, trading over URICA, see it as a big advantage as it helps to mitigate the issues they would normally encounter much later.
Finally, our credit risk team follows a very strict assessment process which means we will not be able to trade with every buyer.
We hope this helps clarify everything.
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