Scottish FinTech Know-it has revealed it will enter the Australian market in 2024, as part of its global expansion strategy. 

This strategic move aims to deliver Know-it’s credit management solution to the Australian market, ensuring that Australian SMEs have access to the platform to effectively manage their credit control process. 

The Glasgow-based company’s service which minimises businesses late payments and boost cashflow, is well-positioned to significantly impact the Australian fintech industry due to the organisation’s unique and innovative solution. 

CEO and Founder of Know-it, Lynne Darcey Quigley said: “Australian businesses face the same issues as UK businesses regarding late payments and manual credit control.  

“Automation is crucial to ensure a steady cash flow and efficient financial processes. This is an opportune moment to implement such solutions. 

“Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place. Doing so mitigates credit risk, reduce debtor days, and enhances company cash flow.  

“We aim to demonstrate to Australian business owners, especially SMEs, how fintech can safeguard business continuity during the turbulent economic conditions currently affecting SMEs on a global scale. Our team is thrilled to begin collaborating with local businesses, assisting them in securing cash flow by addressing late payments, decreasing debtor days, and automating their entire credit control process.”

This article was first published by Fintech Global.