Procuret Holding Pty Ltd and eight related entities - Voluntary Administration

Procuret Holding Pty Ltd and eight related entities (collectively, “Procuret”), which operate as an ultra-automated invoice lending platform for b2b transactions, entered voluntary administration on 16 January.

The Sydney-based buy-now-pay-later company was founded by managing director Breitner Marinas in 2019. It helps businesses pay their invoices by breaking them into smaller instalments of $500-$50,000 available to be financed.

Rajiv Goyal and Andrew McEvoy of Aston Chace Group were appointed voluntary administrators and said that they are continuing to trade the business while they consider options, including a going concern sale or a recapitalisation through a DOCA.