Motor repair cash flow initiative stalls

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But soon after Cashflow4U began trading a large sum of funding was withdrawn.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