About Epione
We analysed the time spent by transporters managing cash flow timing in relation to the core operations of their businesses and found it, from experience, to be disproportionately high. Having identified the problem was only the first step, now to determine a solution. Years of tweaking contracts and exploring mainstream solutions with commercial banks yielded only marginal improvements in the position as mainstream banks identified the following issues with the general state of affairs:
Most transporters had already signed over the assets to the asset finance banks as collateral in order to finance their fleets
The transporter’s debtor’s books were held as collateral for fuel guarantees and/or overdrafts rendering them inflexible and tied up
Cross border activities were outside the traditional ‘comfort zones’ of commercial banks as the documentation and micro management of the exposures were not economically viable to the banks
Cross border activities often had foreign based clients that the commercial banks had no legal jurisdiction for recourse on or to put this in place was prohibitively expensive and complex
Having struggled with the same experiences Epione went to work finding solutions and, with the help of like minded investors, has managed to bring to market an impressively simple and extremely effective solution.
The simple logic is, Epione advances the transporter a portion of his invoice, based on where in the trip cycle a transporter wants the funding, and pays the transporter the balance on receipt of the balance of the funds on payment of the invoice by the client. Epione does this for a small fee that is negotiated up front.
OUR VISION
Striving to be an industry leaderOur vision
To grow Epione to be the leader in cross border transport debtor factoring.
OUR MISSION
Giving clients financial strengthOur mission
To provide transporters ongoing returns by improving cash flow by releasing the cash tied up in unpaid invoices.