Iridium Credit sells software to factoring companies, the lenders that advance cash to businesses against their unpaid invoices. Before buying an invoice, a lender has to confirm three things: the work was done, the bill is genuine, and the customer accepts the debt. Done by hand, that costs about $22 an invoice, according to the company. As a result, lenders tend to check only a sample, and small invoices often go unfinanced.
The platform collects invoices and their supporting records, such as timesheets, purchase orders and bills of lading. It matches amounts, dates and parties, and looks for altered documents and invoices already financed under a different number. It then contacts the debtor by email, by phone or through its accounts payable portal to confirm the debt. Anything that doesn’t reconcile goes to a human reviewer, and every step is logged for lenders and auditors. The product also handles collections and cash posting, and runs on top of FactorSoft and FactorCloud, the factoring systems lenders already use.
Founded in late 2025 by Anthony Eden (CEO) and Preesha Gehlot (CTO), the company is based in New York. It works with US factoring companies and charges by invoice volume. In October 2026 it raised £2.3M ($3M) in a round co-led by Field Ventures and MGV, taking total funding to about $3.5M. Earlier backers include Entrepreneurs First and Transpose Platform.