FinTech firm DueCourse enters administration
Manchester-based FinTech company DueCourse has gone into administration.
Charles Everitt of administrators Leonard Curtis confirmed that the company entered administration on July 14th.
DueCourse, founded in 2014, raised £6.25 million in funding last year, one of the largest rounds seen outside of London for a FinTech firm.
Its software platform empowered SMEs to get paid within hours after sending an invoice rather than waiting up to 90 days – unlocking money tied up in unpaid invoices.
Paul Haydock founded DueCourse with Jonathon Grove, head of product, and CTO Tim Borden.
BusinessCloud could not reach Haydock for comment.
Bolton-born Haydock was a co-founder of myparceldelivery.com, a courier service comparison site for SMEs now known as Sorted Group, with David Grimes.
He exited myParcelDelivery.com in 2013 after growing it to a £3m turnover business.