Hiveterminal Announcements
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As we focus on delivering liquidity to invoice sellers, we also want to make sure that Hiveterminal invoice buyers feel safe, have a pleasant experience, and are happy to return to our platform time and time again. The Hiveterminal Support Team is working hard to assist all users and is taking a proactive role in providing information to all sides. We are now adding an important piece to the puzzle that will provide our users with additional peace of mind.
In less than a year, Hiveterminal successfully entered our first »test« market, registering over 1.3% of all companies in Slovenia. Hiveterminal is now used by 681 verified users — 337 sellers and 344 buyers — and the number keeps growing. We are seeing an increased number of debtors signing up to use the platform to speed up the invoice confirmation process. Read more in our Domestic Market and OTC price update here:
With winter out the door, the month of February has once again been kind to Hiveterminal. February 2019 was the first month that multiple invoices — 10 to be exact — were sold on the Hiveterminal platform. Twelve months later, the number of invoices sold has reached 248, despite a two-week winter holiday season in Slovenia.
As countries — including our native Slovenia — declare national emergencies and take additional security measures, the coronavirus is wreaking havoc everywhere, but especially in small and medium-sized businesses (SMEs). It is becoming more obvious than ever that Hiveterminal is beneficial to our users. There is a need for a digital, SME-centric tool to access liquidity.
In 2017, Hiveterminal set its sights on an ambitious project: to bring invoice financing to small and medium-sized businesses (SMEs) via a digital, blockchain-based platform. After a successful crowdfunding campaign, the platform was launched in November 2018. To date, the platform has enabled SMEs to acquire some EUR 700,000 in liquidity on our test market, Slovenia. Hiveterminal’s success in providing fast and cheap liquidity to SMEs in need cannot be attributed solely to the technology choices we have made. Instead, our technology choices and business model combined have enabled us to gain traction among both invoice buyers and sellers. However, many still wonder why we chose to utilize blockchain technology to power our platform? So, we decided to write a blog post about it.
Hiveterminal was built for times of uncertainty. The month of March has been a prime example of this. As our lives were turned upside down, the platform was transformed into a place for many to turn for their immediate liquidity needs.
We have seen an increase in company verifications, with a total of 46 coming in through the month of March — more than the months of January and February combined with 2567 companies in the verification pipeline. 41 invoices were sold on the platform during this time, providing invoice sellers with a combined total of EUR 116041.93 in liquidity.
Ugur Yildirim, Hiveterminal Partner: "I am happy to announce that Hiveterminal's patent-pending technology, growth-perspective and team have convinced one of the Swiss venture investors to enter Hiveterminal as an investor and partner - providing his company's know-how, ecosystem and funds to ensure Hiveterminal's international market expansion!"
Working from our home offices scattered across Ljubljana, we have been successful in communicating the advantages of our platform to invoice buyers. As a result, we have recorded 712 new company registrations since March 1st on our test market of Slovenia. Doubling down on what we see as a real positive shift in the lifecycle of the platform, we reached out to The Chamber of Commerce and Small Business of Slovenia and asked if we could help out many of the struggling business owners that are looking for answers and financial assistance in light of the epidemic. Working together, we created a webinar titled “How to Get Liquidity Amid the Corona Crisis.” It was attended by more than 80 company representatives, all registered on the Hiveterminal platform and in the process of verification. The event was well received and many really important issues were highlighted by the business owners and answered by the team.
Here is our CEO‘s thoughts on the industry and the future of Hiveterminal!

“We strongly believe that we are perfectly positioned to scale-up in the nearest future. The next 30 days will be crucial in terms of development as we want to have the first non-Slovenian companies selling their invoices on Hiveterminal in June 2020."

It is time to scale up!

More in our blog:
With the new VC & changes in the company ownership and organization, we have now joined forces with a new development team. We could not be happier to be working with one of the best and most experienced teams of developers out there!
Read the announcement from our CEO:
The Hiveterminal HQ is currently buzzing with work. Most team members have returned from their home offices, which has further intensified the preparations for the upcoming pan-European expansion. VC not only opened doors for entry into other markets for Hiveterminal, but it has also provided us with a new point of view on improvements needed in certain areas of the product. In this blog, we wanted to highlight some of the steps we are taking to improve the technology side of the Hiveterminal platform.
I am happy to announce that we are undertaking final tests of the multi-market onboarding functionality. We are adding the ability for Hiveterminal back-office to perform invoice sellers and invoice buyers registration from different EU markets, multiple new datasets, and changes to the risk calculation, UX improvements, and different language-packs, among other things. All of this will soon enable companies from different EU jurisdictions to use our blockchain-based invoice financing platform!
At the headquarters, our sights are still firmly set on making Hiveterminal, a blockchain-based invoice financing platform, available to small and medium-sized enterprises (SMEs) outside of Slovenia.
To better illustrate our excitement about the platform’s future, we put together a deep analysis of the invoices uploaded onto the platform from May 1 of this year until today, August 19.