PAIR Finance, which specialises in digital debt collection and receivables management, has now successfully expanded its range of services. Corporate clients, banks and financial service providers can now utilise PAIR Finance as a a trusted, efficient partner in back-up servicing for claim portfolios.
Back-up servicing is a service which is used as an additional level of security in the refinancing of existing claims. This is becoming increasingly important, not only for sharing economy companies, but also for fintechs. A study by PricewaterhouseCooper on the growing share economy in Germany calculated the value of the market segment as well in excess of 20 billion euros in 2018 alone. At the same time, the fintech market is also recording consistently high levels of growth and real demand for the service.
Startup companies in this sector are especially reliant on debt capital from banks and investment companies in order hold enough products in stock, to pre-finance debts and also to be able to continue to grow the company. Back-up services are used to provide security for the lenders in order to be able to access the assets in the event that the company goes under. They deal with the management of the lent portfolios and ensure settlement of outstanding debts.
In recent months, PAIR Finance has been focussing on this service and has extended its product portfolio accordingly. PAIR Finance is capitalising on the benefits of the high-technology receivables management platform it has developed itself in order to create a scalable, efficient back-up servicing solution for corporate portfolios. This allows maximum information transparency and high integration speeds for the customer.
Fabian Platzen, COO of PAIR Finance: “With this service, we are offering our customers security, a highly-professional service and the benefits of in-depth, individual system integration. Just like the lenders, they can rely on us recovering outstanding debts digitally and efficiently in the event of insolvency.”
PAIR Finance’s clients in back-up servicing include Grover, one of the European market leaders in rental commerce for consumer electronics. The Berlin-based company rents out over 1500 tech products, from smartphones and laptops to gaming, VR and smart home gadgets on a monthly basis.
Thomas Antoniolo, CFO Grover: “In PAIR Finance, we have found a strong partner who enables us to continue to grow our successful business model further and at the same time minimise the risk for our financial partners. In cooperation with PAIR Finance, we are also working with a company that understands our needs exactly and is as much a part of the digital era as we are.”
There are also other B2C companies already using back-up servicing from PAIR Finance, including leading German fintechs, mobility industry startups and sharing economy providers. PAIR Finance has successfully generated added value and additional security for finance portfolios worth several hundred million euros within a short space of time.