Triver.com Reviews

Based on looking at the website, Triver.com offers a service called “invoice discounting,” which allows small businesses to get instant cash flow by advancing money on their unpaid client invoices.

While the platform presents itself as a solution for managing cash flow without taking on “debt,” the underlying mechanism involves a transaction fee calculated as a “daily discount rate” applied to the invoice value.

This “discount rate” functions very much like interest, as it’s a cost for the use of money over time, making the service akin to an interest-bearing financial product riba which is strictly impermissible.

Engaging in such transactions, even if disguised as “discounting” or “fees” rather than “interest,” can lead to financial entanglement and is contrary to ethical financial dealings.

It’s always better to seek out and engage with financing methods that are free from interest and adhere to ethical principles.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Triver.com Review & First Look: Understanding the Mechanism

Triver.com positions itself as a modern solution for small businesses facing cash flow challenges, particularly those grappling with extended client payment terms.

The core offering is “invoice discounting,” where Triver advances funds against a business’s outstanding invoices.

The promise is “instant capital in a click” without “taking on debt.” However, a closer examination of their pricing model reveals a transaction cost described as a “simple discount fee per transaction,” calculated as a “daily rate” on the invoice value.

For example, they cite a 0.06% daily rate, equating to 1.8% for a 30-day invoice.

This structure, where a cost is incurred for the use of money over a period, fundamentally aligns with the concept of interest riba.

What is Invoice Discounting with Triver?

Invoice discounting, as offered by Triver, allows businesses to receive a percentage of their outstanding invoice value upfront.

The business retains control over the sales ledger and customer relationships, meaning the client is unaware that their invoice has been advanced.

This differs from “invoice factoring,” where the factoring company takes over the sales ledger and often handles collections.

• Process:
  • Open Facility: Businesses open an online facility with Triver.
  • Upload Invoice: They upload an eligible client invoice.
  • Receive Funds: Triver transfers funds instantly or very quickly to the business’s bank account.
  • Repay: When the client pays the original invoice, the business repays Triver via direct debit, which includes the original advanced amount plus Triver’s fee.
  • Re-use: The facility can be used repeatedly for other invoices.

The Nuance of “Discount Fee” vs. Interest

Triver explicitly states, “There is no setup fee, no interest, no prepayment fee.” Yet, their pricing model calculates a cost based on a “daily discount rate applied on the value of the invoice.”

• Daily Rate Example: 0.06% daily.
• 30-Day Invoice Example: 1.8% of the invoice value.

This cost is directly proportional to the amount advanced and the duration for which the funds are used. Ludlowmotors.co.uk Reviews

This is the very definition of interest, albeit packaged as a “discount fee.” The name used for the charge does not change its underlying nature as a cost for the use of money over time, which is interest.

Targeting Small Businesses

Triver’s service is specifically tailored for UK-based Limited companies or LLPs that:

• Are trading B2B with commercial or public sector clients.
• Have been active for more than 2 years.
• Possess an annual turnover exceeding £100k.
• Can connect their business bank account via Open Banking.
• Have a receivables portfolio not already pledged to another lender.

This targeting indicates a focus on established small and medium-sized enterprises SMEs with a consistent stream of B2B invoices.

Triver.com Cons: Unpacking the Hidden Costs

While Triver highlights the benefits of immediate cash flow, it’s crucial to understand the inherent drawbacks and ethical concerns, particularly regarding the nature of its fees.

The primary concern is the “discount fee” which, despite its nomenclature, functions as interest.

The Interest-Based Fee Structure

The most significant “con” of Triver’s service is its pricing model.

They charge a “simple discount fee per transaction, calculated based on your daily rate applied on the value of the invoice.” This “daily rate” is a clear indication of an interest charge.

• Example Cost: A 0.06% daily rate on a £1,000 invoice over 30 days amounts to £18. This £18 is a direct cost for borrowing £1,000 for 30 days.
• Lack of Transparency in Classification: While they state “no interest,” the calculation method is precisely how interest is levied. This misclassification can be misleading for businesses seeking to avoid interest-based financing.
• Impact on Profit Margins: For small businesses, even a seemingly small percentage like 1.8% for 30 days or potentially higher for longer terms up to 120 days, can significantly eat into profit margins on invoices, especially for goods or services with thin margins. Over time, consistently utilizing such a service could reduce the overall profitability of the business.

Dependence and Cycle of Borrowing

While presented as a flexible solution, relying heavily on invoice discounting can create a dependency, where businesses might continuously rely on advancing invoices to cover operational costs rather than addressing underlying cash flow issues.

• Short-Term Fix: It’s a short-term solution for immediate cash flow gaps, but it doesn’t solve structural problems like slow-paying clients or inefficient billing cycles.
• Perpetual Costs: Each advanced invoice incurs a fee, meaning businesses are consistently paying for access to their own money earlier. This can become a perpetual cycle of costs, rather than a one-time solution.
• Risk of Client Non-Payment: If the client delays payment beyond 120 days the maximum extension period Triver allows, the business is still required to repay Triver, even if they haven’t received funds from their client. This shifts the risk of non-payment onto the business, adding financial strain.

Limited Scope and Eligibility

Triver’s service isn’t for every small business.

The strict eligibility criteria limit who can access this financing. A7uk.com Reviews

• UK-Specific: Only UK-registered companies.
• B2B Only: Excludes businesses that primarily serve consumers or sole traders.
• Established Businesses: Minimum 2 years of trading and £100k annual turnover excludes startups and very small businesses.
• Invoice Specifics: Invoices must be in Pound Sterling, for UK companies or public sector entities, and have payment terms of 10 days or more. This means businesses with shorter payment terms or international clients cannot use the service.

Triver.com Alternatives: Ethical Cash Flow Management

Given the concerns surrounding interest-based financing, it’s imperative for businesses to explore ethical alternatives that align with principles of fair dealing and avoid interest riba. There are several pathways to manage cash flow effectively without resorting to models that generate income from the lending of money.

1. Ethical, Interest-Free Financing Murabaha, Musharakah, Mudarabah

The core principle here is to align financing with tangible assets, profit-sharing, or fee-for-service models rather than charging for the use of money itself.

• Murabaha Cost-Plus Financing: This is a common and transparent form of ethical financing. Instead of lending money, a financier purchases an asset e.g., equipment, inventory on behalf of the business and then sells it to the business at a predetermined mark-up. The business repays the financier in installments. The profit is derived from the sale of the asset, not from a loan.
  • Example: A business needs to purchase £10,000 worth of raw materials. An ethical financier buys the materials for £10,000 and sells them to the business for £10,500, with payment structured over six months. The £500 is the profit from the sale, not interest.
• Musharakah Partnership/Joint Venture: This involves a profit-and-loss sharing partnership. The financier and the business both contribute capital to a project or venture, and any profits or losses are shared according to a pre-agreed ratio.
  • Benefit: The risk is shared, and the financier’s return is tied to the actual success of the venture, aligning incentives.
• Mudarabah Trustee Financing: One party provides capital the financier, and the other provides expertise and labor the business. Profits are shared based on a pre-agreed ratio, but if there are losses not due to negligence, the financier bears the financial loss, while the business loses its effort.
  • Application: Suitable for financing specific projects where the business has expertise but lacks capital.

2. Robust Financial Planning & Cash Flow Forecasting

Proactive financial management is often the best defense against cash flow crises.

• Detailed Budgeting: Create a comprehensive budget that tracks all income and expenses. Identify peak and trough periods in cash flow.
• Accurate Forecasting: Use historical data and projected sales to forecast cash inflows and outflows for the next 3, 6, and 12 months. This helps anticipate shortfalls before they become critical.
• Scenario Planning: Model different scenarios e.g., delayed client payments, unexpected expenses to understand potential impacts on cash flow and develop contingency plans.
• Emergency Fund: Build a reserve fund specifically for unexpected expenses or temporary cash flow dips. Aim for 3-6 months of operating expenses.

3. Optimizing Accounts Receivable & Payable

Improving the efficiency of managing incoming and outgoing payments can significantly impact cash flow.

• Expedited Invoicing: Issue invoices promptly upon delivery of goods or services.
• Clear Payment Terms: Ensure payment terms are clear, concise, and agreed upon upfront.
• Early Payment Incentives: Offer small discounts for clients who pay invoices ahead of their due date e.g., “2% 10, Net 30”. This reduces the time cash is outstanding.
• Strategic Payment of Bills: Pay your own bills on time but not excessively early, leveraging your own payment terms while maintaining good vendor relationships.
• Automated Reminders: Implement automated systems for sending payment reminders to clients as invoices approach their due date and past due.
• Follow-Up: Have a structured process for following up on overdue invoices. A polite, persistent approach is often effective.

4. Exploring Non-Debt-Based Funding

• Equity Financing: For growing businesses, bringing in equity investors e.g., angel investors, venture capitalists can provide significant capital without incurring debt or interest. Investors take a stake in the company and share in future profits.
• Grants and Subsidies: Research available government grants or industry-specific subsidies for small businesses, especially those involved in innovation, sustainable practices, or social enterprises. These often provide non-repayable funds.
• Crowdfunding Equity or Rewards-Based: Platforms exist where businesses can raise capital from a large number of individuals. Rewards-based crowdfunding involves offering products or unique experiences in exchange for pledges. Equity crowdfunding allows individuals to invest in a business in exchange for shares.
• Personal Savings/Reinvested Profits: For very small businesses, using personal savings or diligently reinvesting profits back into the business can be a foundational way to build capital without external financial obligations.

By focusing on these ethical and strategic alternatives, businesses can build a more resilient financial foundation that aligns with their values and avoids the pitfalls of interest-based lending.

Triver.com Pricing: A Deep Dive into “Discount Fees”

Triver’s pricing model is described as “simple,” with a focus on a “discount fee per transaction.” This simplicity, however, masks the underlying nature of the cost, which functions as interest.

Understanding this structure is crucial for any business considering their service.

The “Simple Discount Fee” Explained

Triver states: “Your TRIVER facility only costs for what you use.

We charge a simple discount fee per transaction, calculated based on your daily rate applied on the value of the invoice – for instance 0.06% daily, i.e. 1.8% for a 30-day invoice.”

• Daily Rate: The core of their pricing is a daily percentage rate. For example, 0.06%.
• Calculation: This daily rate is applied to the value of the invoice advanced and multiplied by the number of days the funds are outstanding.
  • Formula: Invoice Value x Daily Rate x Number of Days = Transaction Cost
• Example from Triver: For a £1,000 invoice held for 10 days at 0.06% daily:
  • £1,000 x 0.0006 0.06% x 10 days = £6.00
  • For 30 days: £1,000 x 0.0006 x 30 days = £18.00
• No Upfront Fees: They emphasize “no setup fee, no interest, no prepayment fee.” This means the cost is only incurred when an invoice is actually advanced.

The “Cost for What You Use” Model

This approach is similar to many interest-based credit lines where you only pay for the funds you draw down. Logos-unlimited.co.uk Reviews

• Flexibility: Businesses can use the facility intermittently, advancing invoices only when immediate cash flow is needed, ostensibly making it a flexible option.
• Variable Cost: The total cost will vary depending on the value of invoices advanced and the duration for which funds are held. A business with frequent, short-term cash flow needs might incur less cost per transaction compared to one with infrequent, long-term needs, assuming the same daily rate.

Comparison to Annual Percentage Rate APR

While Triver presents a daily rate, it’s useful to translate this into an equivalent annual percentage rate APR to understand the true cost over a longer period, though Triver’s model is transactional, not annual.

• Theoretical APR: A daily rate of 0.06% translates to approximately 21.9% annually 0.06% * 365 days.
• Context: This theoretical APR is higher than many traditional bank loans or credit lines, but it’s important to remember that Triver’s model is for short-term invoice financing, not long-term capital. However, even for short-term use, this “discount fee” is functionally identical to interest, and its annualized equivalent underscores the cost.

Ethical Implications of the Pricing

The critical takeaway for those seeking ethical financial practices is that Triver’s “discount fee” is fundamentally a charge for the use of money over time.

This directly conflicts with the principle of avoiding interest riba, where money should not generate money simply by being lent.

The “no interest” claim is a semantic distinction that doesn’t change the underlying financial mechanism.

For businesses committed to ethical dealings, this pricing structure should be viewed with extreme caution, as it represents a form of interest, regardless of the terminology used.

Triver.com vs. Traditional Factoring & Other Solutions

When businesses consider Triver, they’re often weighing it against traditional invoice factoring or other conventional financing options.

Understanding the distinctions, especially through an ethical lens, is crucial.

Triver.com Invoice Discounting

• Mechanism: Funds are advanced against invoices, but the business maintains control of its sales ledger and client relationships. Clients are typically unaware that their invoice has been “discounted.”
• Cost Structure: “Daily discount rate” applied to the invoice value for the duration of the advance. This functions as interest.
• Risk: The business retains the risk of non-payment by the client. If the client doesn’t pay, the business must still repay Triver.
• Privacy: Discreet. invisible to clients.
• Flexibility: Can choose which invoices to advance.
• Ethical Stance: Problematic due to the interest-like “discount fee.”

Traditional Invoice Factoring

• Mechanism: The factoring company purchases the invoices outright from the business. They take over the sales ledger and are responsible for collecting payments directly from the client.
• Cost Structure: Typically involves a service fee percentage of invoice value and a discount charge interest-like fee for the advanced funds. Often less transparent than Triver’s stated daily rate.
• Risk: The factoring company often assumes the risk of client non-payment non-recourse factoring or the business might still be liable recourse factoring.
• Privacy: Visible to clients, as they will be making payments directly to the factoring company.
• Flexibility: Generally, all invoices from a specific client or all sales are factored, less selective than discounting.
• Ethical Stance: Highly problematic. It often involves multiple fees, including explicit interest components, and the outright sale of future receivables for an immediate, discounted sum can be ethically complex.

Bank Overdrafts & Lines of Credit Conventional

• Mechanism: A pre-approved credit limit that businesses can draw upon as needed. Repayment is typically flexible, with interest charged only on the drawn amount.
• Cost Structure: Explicit interest rates e.g., APR and sometimes fees for setting up or maintaining the facility.
• Risk: Business is responsible for repayment.
• Privacy: Internal financing, invisible to clients.
• Flexibility: Very flexible, can be used for any business need, not just invoices.
• Ethical Stance: Clearly involves interest riba and is therefore impermissible.

Ethical Alternatives e.g., Murabaha, Musharakah

• Mechanism: Focus on asset-backed transactions, profit-sharing, or fee-for-service models where no interest is charged on money itself.
• Cost Structure: A profit margin on asset sales, a share of actual profits, or a fixed service fee for an actual service provided.
• Risk: Risk is often shared between the financier and the business e.g., in profit-sharing models or clearly defined through asset ownership.
• Privacy: Can be structured to be discreet, depending on the specific arrangement.
• Flexibility: Can be tailored to specific needs, such as financing inventory, equipment, or project capital.
• Ethical Stance: Designed to be compliant with ethical principles, avoiding interest riba.

Key Takeaway: While Triver offers a discreet and seemingly flexible solution compared to traditional factoring, its fundamental reliance on a “discount fee” that functions as interest places it in a similar ethical category as conventional interest-based financial products. Businesses committed to ethical dealings should actively seek out alternatives that provide cash flow solutions through interest-free and profit-sharing models.

How to Avoid Triver.com And Similar Interest-Based Services

For any business committed to operating ethically and avoiding interest-based transactions, the best approach is to steer clear of services like Triver.com entirely.

This means proactively managing cash flow and seeking genuinely interest-free alternatives. Crocodile.hr Reviews

1. Proactive Cash Flow Management

The most robust defense against needing short-term, interest-based financing is diligent cash flow management.

• Implement Strict Payment Terms: Clearly define payment terms e.g., 15 days, 30 days and ensure they are understood and agreed upon by clients.
• Automate Invoicing and Reminders: Use accounting software to automatically generate and send invoices as soon as work is completed or goods are delivered. Set up automated reminders for approaching due dates and overdue invoices.
• Follow Up on Overdue Invoices Systematically: Don’t let invoices linger. Have a clear, polite, and persistent process for following up on overdue payments. This could involve phone calls, emails, and, as a last resort, engaging a collection agency though this should be carefully considered.
• Negotiate Favorable Payment Terms with Suppliers: Just as you want to be paid quickly, try to negotiate longer payment terms with your own suppliers where possible, without damaging relationships. This extends your own cash runway.
• Maintain a Cash Reserve: Prioritize building and maintaining a healthy cash reserve or emergency fund. This acts as a buffer for unexpected expenses or temporary dips in cash flow, reducing the immediate pressure to seek external financing.

2. Embrace Ethical Financing Models

Actively seek out financial institutions and services that offer ethically compliant financing.

• Identify Ethical Financing Providers: Research and engage with banks or financial institutions that explicitly offer “ethical” or “interest-free” financing products, such as Murabaha, Musharakah, or Ijarah leasing. These institutions are structured to avoid interest.
• Understand the Contracts: When considering ethical financing, thoroughly understand the contract to ensure it genuinely avoids interest and aligns with ethical principles. It should clearly define profit-sharing, asset ownership, or fixed fees based on legitimate services, not a percentage of the amount borrowed.
• Community-Based Funding: Explore local community-based ethical financing initiatives, cooperative models, or philanthropic loans that aim to support businesses without imposing interest.

3. Focus on Business Efficiency and Growth

Strong business fundamentals reduce the need for external financing.

• Optimize Profit Margins: Regularly review your pricing strategy and cost structure to ensure healthy profit margins on your products and services.
• Control Operating Expenses: Continuously look for ways to reduce unnecessary operating costs without compromising quality or service.
• Diversify Revenue Streams: Relying on a single client or product can be risky. Diversify your client base and service offerings to ensure more consistent income.
• Strategic Growth: Plan growth carefully. Expanding too quickly without sufficient capital can put a severe strain on cash flow. Grow at a sustainable pace that your existing cash flow can support, or seek genuine equity partners.

4. Build Strong Client Relationships

Good relationships often translate to smoother payment processes.

• Clear Communication: Maintain open and clear communication with clients regarding project scope, deliverables, and payment expectations.
• Value Proposition: Consistently deliver high-quality work and demonstrate clear value to your clients. Satisfied clients are more likely to pay on time.
• Early Problem Resolution: Address any client concerns or disputes promptly. Unresolved issues can often lead to delayed payments.

By focusing on these proactive and ethical strategies, businesses can avoid the need for services like Triver.com and build a financially sound foundation that aligns with their values.

Frequently Asked Questions

What is Triver.com?

Triver.com is an online platform based in the UK that offers invoice discounting services to small businesses, allowing them to advance funds against their unpaid client invoices to generate instant cash flow.

How does Triver.com claim to work without “debt”?

Triver.com states it helps businesses fund cash flow without taking on “debt” by allowing them to “turn their client invoices into instant cash flow.” However, the service charges a “discount fee” calculated daily on the invoice value, which functions as an interest charge.

What is the “discount fee” charged by Triver.com?

The “discount fee” is a percentage rate applied daily to the value of the advanced invoice.

For example, Triver cites a 0.06% daily rate, equating to 1.8% for a 30-day invoice.

This is essentially a charge for the use of money over time, functioning as interest. Canvaschamp.co.nz Reviews

Is Triver.com suitable for all small businesses?

No, Triver.com has specific eligibility criteria.

It’s for UK Limited companies or LLPs, trading B2B, active for over 2 years with annual turnover above £100k, and able to connect bank accounts via Open Banking.

Does Triver.com impact my company’s credit score?

Triver.com performs a ‘soft search’ initially which doesn’t affect your company’s credit score.

A ‘hard’ search is performed only once you accept an offer, which then gets registered on your credit file.

Does Triver.com impact my personal credit score?

No, Triver.com states that Directors’ personal credit scores are not impacted, with only a ‘soft search’ performed on the applicant Director’s credit file.

What types of invoices does Triver.com accept?

Triver.com accepts commercial invoices in Pound Sterling, made to UK companies or public sector entities not consumers or sole traders, with payment terms of 10 days or more.

How quickly can I get funds from Triver.com?

Triver.com advertises “instant capital in a click” and customer testimonials mention funds being in their bank within minutes or the same day.

What is the maximum facility limit offered by Triver.com?

Triver.com offers an open-ended facility up to £250,000, with individual invoices up to £100,000.

How do I repay Triver.com?

Repayment to Triver.com is collected via a one-off direct debit scheduled a few days after your invoice due date.

Can I make early repayments to Triver.com?

Yes, you can make an early repayment to Triver.com if your client pays you early, and the transaction cost will be adjusted accordingly, with no early repayment fee. Paymentsave.co.uk Reviews

What if my client doesn’t pay on time?

If your client’s payment is delayed, you can request a repayment extension from Triver.com for up to 120 days from the original funding date.

After this period, you are required to repay Triver even if your client hasn’t paid you.

Is Triver.com visible to my clients?

No, Triver.com’s invoice discounting service is designed to be discreet and “invisible to your clients,” as the business retains control over its sales ledger.

What are the ethical concerns with Triver.com?

The primary ethical concern is that Triver.com’s “discount fee,” calculated as a daily rate on the advanced invoice amount, functions as interest riba, which is impermissible.

What are some ethical alternatives to Triver.com for cash flow?

Ethical alternatives include proactive cash flow management, detailed budgeting, optimizing accounts receivable, and exploring interest-free financing models such as Murabaha cost-plus financing, Musharakah profit-and-loss sharing partnership, and Mudarabah trustee financing.

Does Triver.com charge any setup fees?

No, Triver.com explicitly states there is no setup fee.

Are there any hidden fees with Triver.com?

Triver.com emphasizes “one simple fee per transaction, no hidden fees.” However, the core “discount fee” is the functional equivalent of interest, which some might consider a ‘hidden’ aspect in its classification.

How long can an invoice term be for Triver.com to accept it?

Invoices accepted by Triver.com can have payment terms of 10 days or more, up to a maximum extension of 120 days from the original funding date.

Can Triver.com help with unexpected expenses?

Yes, Triver.com aims to provide immediate cash flow which can be used to cover various business needs, including unexpected expenses, but it’s crucial to consider the ethical implications of the interest-based fee.

Why should I avoid services like Triver.com from an ethical standpoint?

Services like Triver.com involve charging a fee for the use of money over time, which aligns with the concept of interest riba. Engaging in such transactions is considered impermissible, regardless of how the fee is termed, and can lead to negative financial outcomes and a cycle of dependency. Robinson-jackson.com Reviews