Novuna Business Cash Flow (formerly Hitachi Capital Invoice Finance, rebranded February 2022) is one of the UK’s largest invoice finance providers, funding over £2 billion to more than 1,000 SMEs annually. Part of Mitsubishi HC Capital UK PLC (FCA FRN: 704348), Novuna offers both invoice factoring and discounting from a minimum turnover of £50,000 – one of the lowest entry points among institutional providers. It is rated 4.8/5 on Feefo and has won multiple sector awards including Lender of the Year 2026. This is our independent review.
- Funding up to 95% of invoice value - Novuna provides higher advance rates than many competitors who typically offer 80–90%
- Best for established SMEs with £100k+ annual turnover - Minimum requirements suit medium businesses rather than startups or micro enterprises
- Higher fees than challenger fintech lenders - Traditional bank pricing typically 15–25% more expensive than modern digital alternatives
- Beats Lloyds & Barclays on advance rates - Offers 5–10% higher funding percentages compared to major high street bank competitors
- Customer service rated 3.2/5 on average - Mixed reviews highlight slower response times during peak periods affecting user satisfaction
Novuna Business Cash Flow Review: Key Facts
Novuna Business Cash Flow is a trading style of Mitsubishi HC Capital UK PLC (FCA authorised – FRN: 704348). It offers invoice factoring (min. £50,000 turnover, Novuna manages credit control) and invoice discounting (min. £500,000 turnover, confidential). It also uniquely acts as both a direct lender and a panel broker, comparing multiple invoice finance providers. Advance rate up to 90%; funding within 24 hours. Indicative rates from 0.5% (floor rate from its panel). For alternatives, see our Best Invoice Factoring Companies UK 2026. Our What Is Invoice Factoring? has the latest figures. For a detailed comparison, see our Invoice Discounting UK. Our Kriya Finance Review breaks this down further. You can compare options in our Business Finance Costs & Rates 2026.
| Factor | Detail |
|---|---|
| Formerly known as | Hitachi Capital Invoice Finance (rebranded February 2022) |
| Parent | Mitsubishi HC Capital UK PLC |
| FCA status | Fully FCA authorised (FRN: 704348) |
| Feefo rating | 4.8/5 |
| Annual funding volume | £2bn+ to 1,000+ SMEs |
| Min. turnover (factoring) | £50,000 |
| Min. turnover (discounting) | £500,000 |
| Advance rate | Up to 90% |
| Funding speed | Within 24 hours |
| Trial period | 6-month trial available |
| Awards (2026) | Lender of the Year 2026 (Business Cash Awards) |
Novuna Products
Novuna offers invoice factoring (minimum £50,000 turnover – Novuna manages collections and credit control on your behalf), invoice discounting (minimum £500,000 turnover – you retain full credit control; your customers are unaware of Novuna’s involvement), payroll finance (for recruitment agencies – combines invoice finance with back-office payroll admin), and credit protection (against customer insolvency). Novuna also operates as a broker panel, comparing multiple invoice finance providers where its own product isn’t the best fit.
Credit protection (bad debt protection) is an optional add-on that covers up to 90% of eligible debts when customers become insolvent or fail to pay after a specified period. For businesses with concentrated debtor books or exposure to sectors with higher insolvency rates, credit protection provides a meaningful safety net without requiring separate trade credit insurance. The cost is absorbed into the overall facility pricing.
Novuna’s dual role as both a direct lender and a panel broker is unusual in the market. If Novuna’s own products are not the best fit for your business, it will compare alternatives from its panel of providers and recommend accordingly. This creates a consultative relationship rather than a pure sales dynamic, though it does mean the initial conversation may feel more like a brokerage than a direct lending application.
Invoice factoring is Novuna’s most accessible product, with a £50,000 minimum annual turnover – lower than most institutional peers. Novuna manages credit control on your behalf, which is valuable for smaller businesses without a dedicated finance team. Startups are accepted alongside established businesses, and Novuna offers a 6-month trial period – unusually flexible for a provider of this scale.
Payroll Finance is a specialist product for recruitment agencies that combines invoice finance with complete back-office administration – payroll processing, timesheets, and compliance – in a single monthly fee. For recruitment businesses, this simplifies cash flow management significantly: Novuna pays contractors weekly from advances on your invoices while you collect from clients on standard terms.
Novuna Rates and Fees
Novuna publishes an indicative rate of “from 0.5%” – this represents the floor rate available through its provider comparison panel, not necessarily Novuna’s own direct product rate. Actual fees depend on turnover, debtor quality, sector, and facility size. The fee structure for invoice finance typically includes two components: a finance charge (interest on the advanced amount, usually expressed as a % over base rate) and a service charge (% of annual turnover, covering administration and credit control). Specific pricing is quoted individually after assessment.
One important nuance: the “from 0.5%” headline rate is the floor available through Novuna’s comparison panel, not necessarily its own direct product rate. Novuna’s own direct facility pricing is individually quoted and typically includes a standard two-fee structure (finance charge + service charge). For factoring, service charges typically range from 0.75–2.5% of turnover; for discounting, 0.1–0.5%. The 6-month trial period means you can test the facility before committing to a longer-term arrangement.
Novuna Customer Reviews
Novuna is rated 4.8/5 on Feefo – Novuna uses Feefo rather than Trustpilot as its primary review platform. Awards include Lender of the Year 2026 (Business Cash Awards) and Innovation in SME Sector 2024. Customer feedback consistently highlights dedicated account manager support, fast onboarding, and the FLi digital platform’s real-time visibility tools. Being the former Hitachi Capital business, Novuna carries 40+ years of institutional heritage.
Novuna vs Alternatives
Novuna’s key strength versus competitors is its low entry point (£50,000 turnover for factoring – half of Kriya’s minimum) and its dual role as both a direct lender and comparison panel. This means if Novuna’s own product isn’t right for your situation, it will compare alternatives. Its weakness is the absence of a Trustpilot presence (it uses Feefo, which has lower public visibility). For businesses wanting fully digital, no-contract access to selective invoice funding, Kriya offers more flexibility. For mid-market businesses wanting a relationship-based service, Pulse Finance is a specialist alternative.
Pros and Cons
Novuna Business Cash Flow helps UK companies access funds from unpaid invoices within 24 hours with flexible, award-winning finance solutions.
