A factoring start-up called Cashflow4U which provides pre-funding for repairers on insurance repair work is understood to be seeking new backers following the withdrawal of over £1m of funding by a major investor.
The operation, set up just over a year ago, was backed by a Gibraltan-based business and tax adviser firm called Fidecs, which identified investors for the business.
But soon after Cashflow4U began trading a large sum of funding was withdrawn.
Cashflow4U operates like a bank and pays
- Tasker Insurance names Robert Organ as new CEO
- ASA reveals insurance advertising complaints
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Staysure snaps up travel rival Avanti
- New motor fleet MGA launched
- GWP slips to $2.39bn at QBE Europe in half year results
- Hiscox adds drone cover and more to home insurance product