Penny Avis 

I recently used Penny for invoice financing, and I couldn’t be more impressed! The entire process was seamless from start to finish. They were incredibly prompt, easy to work with, and paid out quickly, exactly what you need when managing cash flow.
A special shout-out to Nick and Skye, who went above and beyond to make everything smooth and stress-free. Their professionalism, clear communication, and genuine care for the customer experience, both to myself and my customers truly stood out.

We used Penny Freedom for a weeks to help with our cash flow and Nick ad the team were very helpful throughout the whole time and was always able to help. We would definitely recommend and will be using in the future if we need to!

Penny Freedom have been incredible in helping us manage our cashflow. Sometimes our average invoice would have been around 60 days, but for a fair price (lower than many others) the factoring service is really simple to not only onboard, but to also get invoices submitted, approved and then paid. Our account manager Kirsty has been really great at responding to our requirements, going above and beyond and helping us do whatever it takes to get invoices paid out and into our account. Highly recommended and would be happy to speak about Penny to anyone. It's actually been such a great experience.

We have had a good experience with Penny so far. They are easy to work with, especially Sebastian Falcucci.

Once i was set up on the system, seamless experience, staff and Directors very helpful and the ability to cherry pick my own invoices to factor works well for me

Nick and Jodie have been a great help with assisting my business when we landed some big contracts, all payments were made very quickly and Nick and Jodie were very professional and communicative through everything for us, highly recommend Nick and his team at Penny

I wouldn't recommend Penny to anyone. Invoice finance is supposed to be a tool to help with cash flow...however, the process caused more stress than anything else. Their lack of knowledge about the products they are selling is deeply concerning

We looked at Penny to help with short term cash flow. Overall, I found them generally honest and pleasant to deal with, but they don't know a lot of stuff.

Their offer isn't particularly useful to businesses dealing with large clients if the owner of the SME isn't a homeowner. In some cases, they're dangerous! The checks, which we accept are necessary, take so long that invoices can be paid in the meantime. In the case of invoices to larger corporations, they seem particularly useless and can even be fatal! As we found out.

Our invoice was for X. We had already submitted it, but sought to finance it via Penny.

Because they couldn't get verification from the customer, and they didn't follow the customer's process, the invoice they sent, was never paid to them. Instead, our original was ultimately paid to us and it turns out, unbeknown to us, was authorised before Penny submitted theirs.

Penny claimed they hadn't received a reply, but according to the client, Penny had been told the invoice was a duplicate. So Penny's invoice was rejected and this was explained to them.

I got in contact when payment for that invoice we raised had cleared to tell Penny we'd been paid. Penny accepted that, and told me that they would raise a credit note to zero the balance for the end client, which seems courteous on first blush.

However, to our horror, when the next month's invoice payment came through, the end client had applied Penny's credit note to OUR account!!

The net effect of this was this next invoice had been halved in value. Basically, we went to Penny to support our cash flow but Penny's service made it worse by double!

This has had a catastrophic effect on the cash flow of the business. You'd expect a financing firm not to get this sort of thing wrong. Putting a customer who comes to you for finance in a worse financial position than if they'd never used you, is the worst possible thing to do!

Personally, I can see places where Penny could be useful. But overall, that scope is limited to particular types of business relationships. They clearly make fatal mistakes. If an invoice is rejected for example, it's not in anyone's system. A credit note is unnecessary and shouldn't be authorised, even if it zeros the account internally. As the cash position to their client's customer, is not the same.

I will give penny freedom time to improve but the first invoice submitted took way to long with constant chasing. I understand the need to be checked but 2 weeks was poor.

Eve has been amazing cannot tell our helpful Eve and the team have been

Excellent service ensuring funds are there that day would recommend this company

So the team were good, always available, however the process was too long, cashflow can be urgent & stressful and after submitting a legitimate invoice it took over 10 days to get settled, which i wasn't expecting, so i'm on the fence, the staff say it doesn't normally take that long and the quality of the customer service team leads me to believe that is probably true, its just unfortunate that 10 days later at 14:04pm im still waiting and being charged 5% plus VAT for the privilege..

Great company to work with they gather all my pensions I did not even knew about. Many thanks

excellent service as usual. very helpful, could not run my business with out them

Easy to follow, doesn’t take long to find your policies

Brilliant Company, Very easy to use. Great back up when you make mistakes. Would defiantly use in the future.

Thank you very supportive.

GREAT SERVICE!
ALWAYS!
Friendly!!
Would Highly recommend 🙂

I have been working with Penny for the last 6 months and have found the team to be extremely efficient and supportive throughout the process.
In particular, Chelsea Hynes who is an absolute pleasure to work with. Super professional!!
Can’t rate them highly enough.