Late payments start-up to create Glasgow jobs

A start-up that aims to tackle the problem of late payments for small businesses is looking to create 37 jobs after setting up a base in Scotland.

London-based Previse is setting up a new development centre in Glasgow after securing an £800,000 research and development grant from Scottish Enterprise.

The firm’s technology uses artificial intelligence to enable large companies to pay their suppliers the day they receive an invoice. Using millions of data points, it creates an independent score of a buyer’s likelihood to pay an invoice.

Co-founder David Brown said: “Late invoice payments is a global problem. Failing to pay on time for the goods and services is not only morally wrong, it makes no commercial sense.

“Glasgow has become a thriving centre of UK financial technology, making it an ideal place for us. We are looking forward to further strengthening our ties to the Scottish business community.”