Advanon is an online platform on which companies can receive cash based on their outstanding customer invoices. There are two financing options: True-Sale | Pre-financing.
Behind Advanon is a young entrepreneur team, which met at Google, highly motivated staff and supporting experts from the financial services sector. For more information please have a look here
In Switzerland, Advanon is an authorized financial intermediary that is directly subordinated to FINMA (Directly Subordinated Financial Intermediary, DSFI) according to the Anti Money Laundering Act (AMLA). In Germany, Advanon is working with Wirecard Bank AG, which is regulated under the German Banking Act and directly supervised by the Federal Financial Supervisory Authority of Germany (BaFin).
To register on Advanon you must meet the following criteria: As a Swiss Investor you have to be domiciled in Switzerland or have an EU/EFTA Citizenship as well as a Swiss bank account. As a German Investor you have to be domiciled in Germany and have a EU Citizenship. Your bank account should be in EUR, but it does not necessarily have to be in Germany. It is also possible to sign up as a company (legal person).
Please click here to register and create an account on Advanon. Then you will be asked to pass through the following steps:
Create an account with your email address and provide additional information about yourself.
Afterwards we will do an identification according to FINMA.
You will have to fill out a KYC questionnaire about your financial situation.
We will ask you to sign a frame-contract to enter the platform and to confirm that you have understood how the platform works from a legal perspective.
Once we have all the information we will review your account and grant you access within 24 hours.
To identify you we need a copy of your passport or ID (front and back) and a portrait (selfie). We will verify if the person in the two pictures matches. This identification is a requirement to allow us to accept your investments.
FINMA requires us to know your financial and the origin of the assets invested via Advanon. This way we can ensure that there is no money laundering via Advanon. All answers provided are strictly private and will only be shared with the FINMA or its representatives if we are required to do so.
If you want to leave Advanon so you can delete your account at any time. The effective delete of your data is carried out only after an annual audit by FINMA.
On Advanon you can invest in two asset classes
|Operation||You give a company an unsecured short-term loan. The company will repay the loan back to you on due date.||This is an invoice sale (factoring contract). As an investor, you buy the invoice of your customer.|
|Legal claims||You have a legal claim against the company and they must repay your loan regardless if their debtor pays the invoice. You have no legal claim on the invoice.||You buy the invoice and have therefore a legal claim on the invoice.|
|Checks of Advanon||
|Risks||Default of the seller company||Default of the invoice by debtor default|
All investment opportunities will go live at 11 am and 5 pm on the platform. However, the investment opportunities are at least an hour before viewable on the platform. After you made an investment you will receive a confirmation email. With your investment, you enter a legal contact with the company and you have to make the investment.
Once you have successfully made an investment on the platform you receive an email from us. In this email, we confirm your investment and give you the payment data (IBAN and payment date). Afterwards you transfer your investment on a transaction account which is handled by Advanon. Advanon collects all investments there and transfers the money to the company.
Once the investment incl. ROI is repaid to Advanon's transaction account, we send the money without delay to your account. This method enables us to keep track of the transactions and intervene as soon as possible in the case of a default.
As an investors, we take a part of your return as a fee. This applies only for successful repayments and is 20% of the return. However, on Advanon you will only see the net return.
Our fee is deducted from the repayment. You do not have to make a transfer to us.
Company is notified about the repayment. No fees charged.
We call the company in order to find out the reasons for the delay.
First reminder fee is charged to company.
Second reminder fee is charged to company.
We call the company to inform about the debt collection.
We start the debt collection process.
The repayment of the total amount (investment amount + agreed fee) should be made by the company on the defined due date. Often the reason for such a delay in repayment is a delay of the debtor to pay the invoice. If a repayment is not made on time, we will contact the company. We will inform you regularly about the status of repayment and try to find a solution to speed up the repayment. The company will have to pay a default interest for every delayed day. The default interest rate is the annualized interest rate on a daily basis. This interest is added to the repayment of the investment.
After 30 days of delay, or earlier, if we have reason to assume a default, Advanon will start debt collection against the company. In such a case Advanon will issue a payment order against the company on behalf of the investors. This service is free of charge for you as an investor. We have included a power of attorney in the frame contract and will therefore have the legal mean to act quickly on your behalf in case of a default.
On the platform, companies are rated from AAA to B, with B being the lower rating in the spectrum. In Switzerland, this rating is an aggregate of the ratings from CRIF (60%) and Dun & Bradstreet (40%) and not a rating from Advanon. Whilst in Germany, the rating is based on data provided by SCHUFA. Ratings can serve as an indicator for the likelihood of a default, but every investor should perform his own due diligence before making an investment. Advanon does not take any responsibility for the ratings shown on the website.
At the moment only invoices can be uploaded on the platform, which are issued in Swiss Francs (CHF) or Euro (EUR).
Invoices are divided into several parts and each investor on the platform can decide whether and how many of these parts he wants to finance.
Once 50% of the parts of an invoice are financed the invoice is considered financed. In case the 50% are not reached the invoice is considered not financed. If any investments have already been made these investments will be paid back to the investor.
Under Swiss law, a company cannot have more than 20 different investors. To prevent such a situation, we limit the number of investors to 20.
Privacy is an important matter to us. At Advanon we protect your data in the best possible way. All your data will be transmitted encrypted (SSL encryption). Furthermore, our employees are sensibilized for that topic and undergo regular internal training to ensure compliance with data protection laws.
An SME has no access to your data.
In general, only you have access to your data.
The framework contract regulates the legal relationship on the platform and is the base contract for pre-financing and true-sales on Advanon. With your signature, you confirm that you understand all the rights and responsibilities on Advanon and you agree to them. In addition, you grant Advanon a power of attorney so that we can act quickly and flexibly on your behalf in case of a default.
Yes, if you pre-finance or buy an invoice you enter a legally valid with the seller of the invoice. You are now liable to make the investment and the seller (and in case of a true-sale) is liable to repay your investment incl. the ROI.