ETR Digital and Investec complete digital working capital note transaction

ETR Digital and Investec Capital Solutions have completed their first Working Capital Notes transaction, releasing earlier liquidity for a UK food supplier importing goods into the UK grocery market.

The transaction was issued through ETR Digital’s Flownote platform and used verified trade and logistics data to support earlier payment. The structure converts approved trade activity into a transferable digital instrument that can be financed once accepted.

In this case, funding was released within minutes of documentation and digital signature, without requiring major systems integration. The transaction drew on real-time logistics data confirming that goods were in transit, rather than relying only on manual invoice approval.

The structure is designed to address liquidity gaps in sectors where goods can spend long periods in transit before payment is made. Food and commodity supply chains are especially exposed to this issue because suppliers may need to fund production, shipping and documentation well before final settlement.

For Investec, the model offers a way to finance suppliers earlier in the trade cycle while also supporting buyers that want to maintain or extend payment terms. That dual use could make the structure relevant to both supplier-side and buyer-side working capital strategies.

Rob Harris, Co-Head of Investec Capital Solutions, said the model’s appeal lies in its versatility, adding that the same structure can support suppliers seeking earlier cash and buyers looking to manage liquidity.

The transaction also involved TETA, whose Signal platform provided supply chain visibility and transportation data to support the financing trigger.

For working capital finance, the deal shows how digital trade documentation, logistics data and institutional funding are beginning to combine in more practical structures. The key test will be whether the model can scale beyond individual transactions into repeatable supply chain programmes.