Infrastructure · Not a fund

The operating system for institutional receivables finance.

Vabble connects institutional capital to verified trade receivables — with end-to-end automation, true-sale legal structure, and settlement on tier-1 institutional bank rails.

Settlement rails

J.P. Morgan

Vabble institutional receivables platform

~48h

from acceptance to funding

180d

Open-account terms exporters
are asked to carry

~48h

From buyer acceptance
to funds released

100%

Buyer-confirmed receivables only
No self-certification

$2.5T

The global trade finance gap, as estimated by the Asian Development Bank

The Gap

A $2.5 trillion financing gap. Still run on spreadsheets.

Global trade finance has a massive funding gap — and the infrastructure to close it doesn't exist. Suppliers wait 90–180 days to get paid. Investors lack the controls and transparency to deploy capital into short-duration receivables at scale.

Manual processes, fragmented data, and opaque structures keep both sides stuck.

Vabble is the missing infrastructure layer — verified, structured, settled, and reported automatically.

How It Works

From invoice to settlement in five steps.

End-to-end automation. Binary decisioning. Settlement on institutional bank rails.

Settlement Rail — 48 hour process ~48 hours end-to-end

Step 01

Onboard

Suppliers and buyers complete KYC/KYB. Investors configure mandates and concentration controls.

Step 02

Upload & Verify

Supplier uploads the invoice and trade documents. Vabble runs automated document checks. The buyer accepts the assignment and the amount.

Step 03

Structure & Document

True-sale legal documentation is generated automatically. No manual intervention, no override pathway.

Step 04

Match & Fund

Verified receivables are matched to investor mandates. Capital deploys to the supplier.

Step 05

Settle & Report

Buyer pays into a segregated account at a tier-1 institutional bank. Investors receive principal plus return. Full audit trail.

Built for Institutional Trust

Verification and controls at every layer.

Fraud, error and override are designed out of the path, not monitored after the fact.

Buyer Confirmation

Every receivable is confirmed directly by the buyer. No self-certified invoices, no assumptions. Fictitious invoice risk eliminated at source.

True-Sale Legal Structure

Each transaction is a legally perfected true sale — clean bankruptcy remoteness, clear ownership transfer, automated documentation.

Segregated Settlement

Payments settle through segregated accounts at a tier-1 institutional bank. Funds never co-mingle and are fully traceable at every step.

No Manual Override

Rules decide funding. A receivable clears every criterion or it does not proceed. Judgement is reviewed; only the rules release cash.

Continuous Audit Trail

Every action, approval, and data point is logged immutably. Full transparency for compliance teams and reporting — available in real time.

Regulatory Alignment

Designed for institutional compliance requirements from day one — not retrofitted. KYC/KYB workflows follow established standards.

Built for Two Sides

Infrastructure for investors and suppliers alike.

For Institutional Investors

Deploy capital into verified, short-duration trade receivables.

Full transparency and governance — the system of record you'd expect from core infrastructure.

Pre-approved obligor exposure only
Mandate-level controls and reporting
No blind pools, no commingled risk
Verified, auditable, repeatable

For Exporters & Suppliers

Stop waiting 180 days. Get funded in approximately 48 hours.

Priced against your buyer's credit, not yours. Institutional capital, true sale — not a loan on your books.

Onboarded once, then invoice by invoice
Priced in line with the quality of your buyers
No complex factoring arrangements
Reliable, institutional-backed funding

Launch Ready

Designed for institutional-grade deployment.

Vabble isn't a prototype. The platform is a fully engineered system of record — built with the same rigour that institutional investors expect from their core infrastructure. End-to-end workflow automation, regulatory-aligned compliance architecture, and settlement rails trusted by the world's largest institutions.

This is receivables infrastructure. Built, and ready to transact.

Infrastructure & Advisers

J.P. MORGAN

Settlement Rails

TAYLOR WESSING

Legal Counsel

FIELDFISHER

Legal Counsel

Get Started

Ready to see how Vabble works?

Whether you're an investor looking for verified short-duration exposure, or a supplier ready to unlock your receivables, we'd like to hear from you.

For Investors

Verified receivables. Institutional controls. Full transparency.

Vabble gives asset managers a system-of-record for deploying capital into trade receivables — with the governance, verification, and reporting infrastructure you'd expect from any core allocation.

What Vabble Provides

What investors get on Vabble.

Investment-grade obligor risk

Every receivable is accepted by the buyer and checked against the trade record before it reaches your mandate. Models extract and match the documents and flag what does not reconcile; a reviewer clears every flag. Obligors are investment-grade or trade-credit-insurable. You see the obligor, the amount, the maturity and the documentation. No self-certification.

Mandate-level controls

Set your own rules: sector, geography, obligor limits, concentration caps, maturity range. Vabble enforces them automatically. No exceptions. Only receivables that meet every criterion are presented for deployment.

Transparent, auditable reporting

Real-time portfolio visibility. Full audit trail on every transaction. Exportable reporting aligned to institutional standards — portfolio composition, maturity schedules, obligor exposure, full transaction history.

Short-dated, self-liquidating exposure

Tenors of 60 to 180 days, self-liquidating on the buyer's payment. Built for continuous origination. No lock-up. Capital recycles against your pre-defined mandate parameters.

Governance & Workflow

How governance works on Vabble.

Funding is decided by rules, not by discretion. Every receivable passes a fixed sequence — KYC/KYB, document checks, buyer acceptance, true-sale documentation — and either clears or it does not. Models assist the checking: they extract, match, and flag. They cannot approve an obligor, accept a notice on a buyer's behalf, or release cash. Where a document needs judgement a reviewer clears it, and only the pass/fail rules release capital. There is no exception committee.

Pre-approval happens at the mandate level: you define what you'll accept, and only receivables that meet every criterion are presented for deployment. This isn't discretionary asset management — it's infrastructure that enforces your rules.

Positioning

What Vabble is — and isn't.

We don't take positions, manage assets, or make credit decisions on your behalf. We provide the verified pipeline, the legal structure, the settlement mechanics, and the reporting.

Vabble is

→ Infrastructure / operating system

→ A system of record for receivables

→ A workflow and compliance engine

→ Settlement rails + reporting

Vabble is not

× A fund or asset manager

× A balance-sheet lender

× A marketplace or auction

× An advisory or brokerage

FAQ

Investor questions, answered.

You do. Each transaction is structured as a true sale. Legal ownership transfers to the investor at the point of purchase, with full documentation and bankruptcy-remote structure.

Every receivable requires the buyer to accept the assignment and the amount before funding, alongside model-assisted document checks and sanctions, KYC and KYB screening. There is no self-certification pathway. The credit that matters is the buyer's.

Returns are a function of the underlying receivable pricing, tenor, and obligor risk. Vabble charges an infrastructure fee — the rest flows to investors. Speak to our institutional team for specifics relevant to your mandate.

All payments settle through segregated accounts at a tier-1 institutional bank. Funds are never co-mingled. Every settlement event is logged in the immutable audit trail and visible in your real-time dashboard.

Real-time dashboard access plus exportable reports covering portfolio composition, maturity schedules, obligor exposure, and full transaction history. All reporting is designed to align with institutional compliance and audit requirements.

Question not answered here? Book thirty minutes with Pablo.

Next Step

See the full picture.

Request our investor deck, or schedule a call with our institutional team.

For Suppliers

Stop waiting. Start growing.

Exporters are running someone else’s overdraft. Because your buyer is large and you are small, you extend free credit to one of the world’s most creditworthy companies while your own working capital runs dry. Vabble turns those invoices into cash, within approximately 48 hours of your buyer's acceptance.

The Value

Your invoices are an asset. Use them.

If you sell goods or services on 60–180 day payment terms, your working capital is locked in your receivables. Vabble lets you unlock that capital quickly, backed by institutional investors rather than factoring houses. Competitive financing, significantly below factoring, priced in line with the quality of your buyers.

~48h

From buyer acceptance to funds released

0

Hidden charges or complex structures. What you see is what you pay.

How It Works

Three steps. That's it.

1

Upload your invoice

Submit your invoice and the supporting trade documents. Our AI reads them and checks them against the purchase order, the shipping record and your buyer's history. Takes around 15 minutes, not three weeks.

2

Your buyer confirms

We contact your buyer to confirm the obligation directly. Once the buyer confirms, the receivable is verified, legally structured, and ready to fund. Buyer confirmation is mandatory — no exceptions.

3

Receive your funds

Capital is deployed by institutional investors and settled directly to you, within approximately 48 hours of your buyer's acceptance. Tier-1 institutional bank rails. Vabble manages collection from your buyer at maturity.

How the advance works

Funding reaches you in two parts.

Up to 80% within approximately 48 hours. Once your buyer confirms the assignment and the amount, up to 80% of the invoice value is advanced to you and settled through segregated accounts at a tier-1 institutional bank.

The balance when your buyer pays. Vabble manages collection at maturity. When your buyer settles, the remaining balance is released to you, less the agreed fees.

Why Vabble

Built for suppliers who want better.

Traditional Factoring	Vabble
Opaque, variable pricing	Priced against the buyer's credit
Recourse structures common	True-sale — clean and final
Manual, slow onboarding	AI document checks in minutes; onboarded once, then repeatable
Relationship-dependent	Systematic, rules-based
Expensive, with the true annual cost obscured	Competitive financing — significantly below factoring

Use Cases

Who Vabble is built for.

Vabble works for exporters and suppliers across sectors — manufacturing, agriculture, technology, services — wherever you sell to investment-grade or insurable buyers in qualifying jurisdictions on 60 to 180 day terms, with up to 80% of the invoice value advanced initially.

Common use case: An exporter ships goods to a large corporate buyer on 120-day terms. Instead of waiting four months, they upload the invoice to Vabble, the buyer confirms, and funds arrive in approximately 48 hours. The exporter reinvests immediately in their next order cycle.

Get Funded

Ready to accelerate your cash flow?

Talk to our origination team to see if Vabble is right for your receivables.

Platform

End-to-end receivables infrastructure.

A payments business that happens to start with a receivable. Vabble automates the entire workflow — from onboarding and verification through legal structuring, settlement, and reporting. One system. No gaps.

The Workflow

Seven steps. Fully automated.

Every step in the receivables finance lifecycle is handled by the platform — from first onboarding to final settlement. No manual handoffs, no bespoke negotiations.

1

Onboarding & KYC/KYB

Suppliers, buyers, and investors onboarded digitally. Identity verification, corporate diligence, and compliance checks are automated.

2

Invoice Submission

Suppliers upload invoices and supporting trade documents through a secure portal.

3

Document Verification

Models extract the invoice data and match it against the purchase order, the shipping and customs record, and the buyer-seller history. Anything that does not reconcile is flagged, and a reviewer clears every flag before the receivable can proceed.

4

Buyer Confirmation

The buyer directly confirms the obligation. This is the critical trust anchor: no receivable proceeds without buyer acknowledgment.

5

Legal Documentation & True Sale

True-sale documentation generated automatically for each transaction. Ownership transfers cleanly. No manual drafting, no bespoke negotiations.

6

Investor Matching & Settlement

Verified receivables matched to investor mandates. Capital deploys and settles through segregated accounts at a tier-1 institutional bank.

7

Collections & Reporting

At maturity, buyer payments collected into segregated accounts and distributed. Full audit trail and reporting available in real time.

Core Modules

Platform modules.

Onboarding Engine

Automated KYC/KYB, document collection, and approval workflows for all counterparties.

Verification Layer

Model-assisted document matching plus the buyer's signed acceptance. Two independent locks on every receivable.

Legal & Documentation

Automated true-sale structuring, assignment notices, and legal perfection — no manual intervention.

Settlement Rails

Segregated accounts at a tier-1 institutional bank. Clean fund flows, no co-mingling, automated reconciliation.

Collections Tracking

Maturity monitoring, payment tracking, and exception flagging across the entire portfolio.

Reporting & Audit

Real-time dashboards, exportable reports, and a complete, immutable audit trail for every transaction.

Want to see the platform in detail?

Security & Controls

Trust isn't a feature. It's the architecture.

Vabble is designed so that fraud, error, and override are structurally eliminated — not just monitored.

Fraud-Proof Architecture

How Vabble prevents fraud.

Funding is decided by rules, not by discretion. Models extract, match and flag; where a document needs judgement a reviewer clears it. Only the pass/fail rules release capital. There is no exception committee.

Vabble's security posture isn't built on monitoring for fraud after it happens. It's built to make the fraudulent path structurally impossible.

Buyer confirmation is mandatory.

No receivable enters the system on the supplier's word alone. The buyer must independently confirm the obligation, the amount, and the maturity. This eliminates fictitious invoice risk at the source.

Every document is matched against the trade record.

Models read and match the invoice against the trade documents, the shipping and customs record and the buyer-seller history. What they cannot do is decide: a model cannot approve an obligor, accept a notice on a buyer's behalf, or release cash. Every flag is cleared by a person.

No funding override exists.

A receivable meets every criterion or it does not proceed. A reviewer can clear a flagged document; a reviewer cannot waive a criterion, approve an exception or release capital. There is no exception committee and no override pathway.

Settlement runs on institutional bank rails.

Payments flow through segregated accounts at a tier-1 institutional bank. Funds are never pooled, never co-mingled, and are fully traceable at every step.

Every action is logged.

The platform maintains a complete, immutable audit trail — every verification step, every approval, every settlement event. Available to investors and auditors at any time.

Compliance Posture

Compliance by design.

Vabble is built with institutional regulatory expectations in mind. KYC/KYB workflows follow established standards. Data handling and storage comply with applicable privacy and security requirements. The platform architecture supports regulatory reporting and third-party audit access.

We work with legal and compliance counsel to ensure the platform's structure aligns with the requirements of institutional investors and their regulators. If you have specific compliance questions, our team is available to discuss the architecture in detail.

Questions about our security architecture?

We're happy to walk through the controls in detail.

Company

Infrastructure for a faster, fairer trade finance market.

Trillions of dollars in trade receivables go unfunded every year — not because the risk is bad, but because the infrastructure doesn't exist to verify, structure, and settle them at institutional standards.

Our Mission

Closing the infrastructure gap.

Suppliers wait months for payment. Institutional investors can't access the asset class without building custom operations from scratch. Vabble exists to close that gap.

We've built the system of record that makes receivables finance institutional-grade by default: verified, structured, settled, and reported — automatically.

Why Now

The terms of trade moved against the people who produce.

This is not a credit problem. Those buyers pay, on time, at scale. It is a plumbing problem — and plumbing is buildable.

Buyers extended payment terms, and kept them there.

Large corporates protected their own working capital through the pandemic and the disruption that followed. The terms they set did not come back down. Somebody finances the gap between shipment and payment, and it is not the buyer.

Commodity prices stopped being predictable.

When input costs, freight and currency all move at once, the working capital a single shipment consumes is no longer a number an exporter can plan around. The variance lands on the smallest balance sheet in the chain.

Banks withdrew from the corridors where capital is scarcest.

Correspondent relationships thinned and country limits tightened. The buyers are still investment grade. The exporters still ship. The route between them narrowed.

Verification, true sale and settlement now exist as infrastructure rather than as a relationship. That is what makes this financeable at institutional scale, and it is what Vabble is.

Leadership

The team.

Pablo Terpolilli

Founder & CEO

Simon Knowles

Partner & Head of Technology

Derek Hudson

Director & Chief Commercial Officer

Colleen Connors

Strategy & Operations

Francesco Baldanza

Director & Strategic Investor

Edoardo Levy

Strategic Investor

Alejandro Anzivino

Audit & Risk

Pablo Melhem

Legal Counsel

Ricardo Tamborini

Lead DevOps Architect

Macarena Gonzalez Hopff

Design Lead

Backing

Backed by investors and accelerators.

Vabble's investors include Fuel Ventures, Alfin Ventures, and entrepreneurs and angel investors across the US, the UK and Canada. Vabble has also been selected for two of the world's most competitive fintech and deep-tech accelerator programmes.

Investors

Fuel Ventures

Alfin Ventures

Entrepreneurs & angels

US · UK · Canada

Accelerator programmes

Creative Destruction Lab

CDL — Web 3.0

One of the world's top seed-stage programmes for massively scalable, science- and technology-based companies. CDL alumni have created over $25 billion in equity value.

View Vabble on CDL →

Startupbootcamp FinTech

SBC — FinTech 2023

A globally recognised fintech accelerator connecting startups with corporate partners, investors, and mentors across the financial services industry.

View Vabble on SBC →

Get in Touch

Contact us.

Whether you're an investor, a supplier, or want to learn more about the platform — our team is available.

For Investors

investors@vabble.io

For Suppliers

origination@vabble.io

General Enquiries

hello@vabble.io

Founder's Note

The question that would have caught all of them.

Every major failure in private credit — Greensill, MFS, HPS — shared one thing in common. Not bad assets. Missing infrastructure. Here is the question that exposes the difference.

Read the full article on Substack →

What the Crises Had in Common

The assets were fine. The pipes weren't.

Apollo, Ares, Blackstone, and KKR survived the cycle because the assets they hold are genuinely strong. BDCs operate below 1× leverage. Borrower earnings grew 10% year-on-year. The 20-year realised loss rate on private credit sits at approximately 1%.

Greensill didn't collapse because its receivables were worthless. MFS didn't create £2 billion in double-pledged assets because its buyers were bad credits. These were liability-structure failures and transparency failures — infrastructure problems, not asset-quality problems.

"If ownership truth sits inside one counterparty's systems, investors are not looking at infrastructure. They are looking at a black box with reporting attached."

The Four Questions

What institutional-grade infrastructure actually requires.

Every platform in this asset class can be stress-tested with the same four questions. The answers reveal whether it is infrastructure or a black box with reporting attached.

1. Can the system fund an unverified asset?

True architectural enforcement means buyer confirmation happens before funding — not as a periodic audit, not as a document check, but as a hard technical gate. The HPS case saw fabricated invoice confirmations persist for five years despite institutional oversight. The fix is not better humans. It is a system that physically cannot proceed without verification. No manual overrides.

2. Can investors verify ownership independently of the originator?

MFS accumulated £2 billion in double-pledged assets silently because lenders saw only what MFS chose to reveal. Institutional infrastructure requires shared ledgers, immutability protections, obligor notifications that prevent double-assignment, and investor access that does not depend on the originator's co-operation.

3. Is the legal structure bankruptcy-remote by construction?

True sale requires external counsel opinions — not internal legal review. SPVs need independent directors, limited permitted activities, and no operational commingling. UCC-1 filings must establish priority. Cross-border operations require jurisdiction-specific enforceability analysis. "We've structured it properly" is not the same as a bankruptcy-remote structure.

4. Does cash ever flow through the originator's accounts?

If the answer is yes, the platform's bankruptcy interrupts investor recovery. Institutional custodians — JPMorgan, Deutsche Bank, BNY, State Street — should hold assets and manage flows. Depository Account Control Agreements must prevent originator withdrawals. The test is simple: if the originator disappeared tomorrow, would obligor collections continue uninterrupted?

Why This Matters Now

The market is already sorting.

Goldman Sachs has warned that private credit risks are rising faster than markets reflect, describing conditions as "unstable stability." Goldman and JPMorgan have assembled bespoke short vehicles targeting the $1.8 trillion market. The assets appearing in those short baskets are BDCs and pooled funds — not verified, directly assigned receivables settled through institutional rails.

The Asian Development Bank estimates a $2.5 trillion global trade finance gap. Banks continue their selective retreat. Institutional capital is concentrating around platforms that can answer these four questions with infrastructure evidence, not promises.

"The pipes are not optional anymore. Infrastructure quality now rivals credit quality as a selection criterion."

Writing

Notes on the infrastructure behind trade finance.

Pablo writes on verification, true sale and what separates institutional infrastructure from a black box with reporting attached.

25 August 2026

The Market That Should Already Exist

Verified trade receivables have the demand, the economics and now the regulatory tailwind to be an institutional asset class. They are not one, because nobody built the layer in the middle.

Read on Substack →

17 August 2026

The Same Fraud, Twelve Years Running

From Qingdao in 2014 to the iron ore traders under investigation this month, every major trade finance fraud has run on one mechanism. Every fix the industry has tried treats the symptom.

Read on Substack →

12 June 2026

When the Regulator Writes Your Checklist

Two months ago the four diligence questions were prudent practice. They are becoming the rulebook. What changes when the SEC, the FSB and Congress arrive at the same answer you did.

Read on Substack →

10 April 2026

The Question That Would Have Caught All of Them

Private credit is not going away. The infrastructure standard is. Four non-negotiable questions for investors deploying into non-bank asset-based finance.

Read on Substack →

11 March 2026

Cockroaches, Canaries, and the Infrastructure That Stops Them

A run of failures told the market everything it needed to know about non-bank asset-based finance. The question is whether anyone was listening.

Read on Substack →

27 February 2026

The Pipes Are Still Broken

Two failures hit non-bank finance in the same week, one in London and one in New York. They are being lumped together. They should not be.

Read on Substack →

11 February 2026

Verified Trust: How Vabble's Infrastructure Revives Trade Receivables

Trust died when verification failed. How verified infrastructure revives it, and what that unlocks at global scale.