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.
Backers include founders and investors in Zoopla, LoveFilm, TransferWise and LinkedIn.
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.