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Platinum Member, Lending


Invoiceworx is a trade finance platform that seeks to provide credit to SMEs for contracts and purchase orders and discount invoices for SMEs for early settlement from debtors.

The demand for credit among small and medium enterprises (SMEs) presents an obvious opportunity for banks. But the supply does not match it.

Sub-Saharan Africa is one of the most difficult regions in the world in which to access financing for SMEs. This unmet demand – the credit gap – is estimated at between US$70bn and $90bn in the region, according to a recently released report by the African Development Bank,”Financial Inclusion in Africa”. The provision of credit, including loans, overdrafts, leasing and trade finance, would need to increase by 270%-300% to close the credit gap, the report finds. Invoiceworx sees the above problem as a big opportunity.

We have developed a credit vetting algorithm that allows us to vet credit applications within hours. Our customer experience journey is as follows:

  1. Register on the platform (information about you and your business)

  2. Request finance by telling us about the contract/purchase order and upload documents.

  3. We verify the purchase order with the ordering party for authenticity.

  4. Our system scores your application and we either accept or reject your application.

  5. When approved disbursement will happen.

  6. Outstanding debt will be collected either daily, weekly or monthly.

Siya Ntutela, Founder and CEO

Siya was born in Johannesburg but grew up in the Eastern Cape and later Emalahleni. He is married with three kids and is a proud AlphaCode gold member.

  • B Com – Accounting and Auditing
  • Qualified Facilitator and Assessor, ETDP Seta
  • Short Term Insurance – NQF Level 4, InSeta
  • Treasury Specialist – Investec (4 years)
  • Financial Advisor – Sanlam (1 year)
  • Facilitator and Assessor – PMI, QED, Imsimbi, Fernwood Business College

Mdu Thabethe, COO

Mdu Thabethe is one of the key team members of Invoiceworx. He is a banker by profession and has many years of banking experience ranging from Retail to Corporate. He worked for Volkskas Bank, Standard Bank, Nedbank and Absa. He is regarded as a specialist in the business sector and in economic development based on more than 20 years of involvement within the industry based on the successes achieved and the research conducted. Mdu hold the following qualifications: - Diploma in Bank Credit Principles – Damelin School of Banking (DSB) - Programme in Managing Risk in the SME Market – Graduate Institute of Management & Technology (GIMT) - Credit Diploma – Institute of Bankers in South Africa (IOB) - Advanced Credit Diploma – Institute of Bankers in South Africa (IOB) - Certificated Associate of the Institute of Bankers (CAIB) – Institute of Bankers in South Africa (IOB) - Management Development Programme – Gordon Institute of Business Science (GIBS) - School Leadership Programme – University of Stellenbosch Business School and Executive Development (USB-ED) - Masters in Business Administration (MBA) – Milpark Business School (MBS).

  • Credit and risk management
  • Banking
  • SME development

Sep 2015 - Founding of Invoiceworx

Nov 2015 - Top Ten Standard Bank Fintech Competition

Mar 2016 - Top 100 Hack Jozi start-up competition

Sep 2016 - Launch at the Small Business Expo

Connect with Invoiceworx

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