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APIIP SIGNED

API-Enabled Invoice Protection in Europe

Total Cost €

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EC-Contrib. €

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Partnership

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 APIIP project word cloud

Explore the words cloud of the APIIP project. It provides you a very rough idea of what is the project "APIIP" about.

cutting    trl6    companies    io    cto    market    25    marketplaces    integrating    data    policy    onboarding    credit    domestic    giving    co    sme    4th    distributed    building    models    expansion    engines    usa    insolvency    protect    insurance    commercial    time    exports    cloud    uk    science    55m    orders    world    global    analytical    hundreds    analytics    ceo    pricing    launched    date    vision    coo    establishing    mitigate    deep    insurer    trade    founders    thousands    pillars    every    industry    platform    signed    prospective    platforms    spain    reinsurer    french    too    innovation    revenue    raised    justify    whom    superior    brokers    ex    edge    sale    international    automated    administration    protection    german    begun    expertise    penetration    realise    benefit    accounting    exists    first    demonstrating    centrifuge    invoice    italy    risk    technological    underwriting    instrument    sold    fintech    pipeline    infrastructure    accepted    point    scor    issue    deal    b2b    finance    invoices    capacity    commissions    daily    payment    smes   

Project "APIIP" data sheet

The following table provides information about the project.

Coordinator
HOKODO 

Organization address
address: 39-41 RUE DE LA CHAUSSEE D'ANTIN
city: PARIS
postcode: 75009
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country France [FR]
 Total cost 2˙840˙337 €
 EC max contribution 1˙988˙236 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-2
 Funding Scheme SME-2
 Starting year 2019
 Duration (year-month-day) from 2019-06-01   to  2021-05-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    HOKODO FR (PARIS) coordinator 1˙988˙236.00

Map

 Project objective

Every year across Europe, hundreds of thousands of companies are driven into insolvency because of late or non-payment of invoices. Trade credit insurance exists to mitigate this issue. However, the SMEs who could benefit the most do not currently have access because it is traditionally distributed by brokers, for whom the commissions generated by an SME are too low to justify the cost of sale.

Our vision comprises three pillars:

• commercial innovation - to make our Invoice Protection product available to SMEs by offering it at the point of need, as orders are accepted or invoices raised on the cloud accounting platforms or B2B marketplaces that SMEs use daily;

• analytical innovation - cutting-edge data science for superior credit analytics;

• technological innovation - real-time and automated pricing, underwriting and policy administration engines.

With current penetration only 0.25% today, we are creating the credit insurance market for SMEs.

Our three founders (ex-COO of a global insurer; ex-CEO and ex-CTO of the innovation unit at the world’s leading credit insurance co.) have the deep industry expertise and commercial insight required to make this project a success.

To date we have signed a deal with SCOR (the world’s 4th largest reinsurer) giving us risk capacity; launched our technology in the UK (demonstrating TRL6; our first policy was sold via centrifuge.io, a trade finance fintech); begun onboarding another three partners in the UK; and built up a strong distribution pipeline with prospective European partners.

Work in this project will allow us to protect German and French SMEs for both their domestic trade and exports to the UK, Spain, Italy and the USA by integrating with our distribution partners, building credit analytics models and establishing insurance infrastructure. The project is a platform for further international and product expansion. SME instrument funding will enable us to realise €55M revenue within five years.

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The information about "APIIP" are provided by the European Opendata Portal: CORDIS opendata.

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