# Remitia Limited (08961747)

> Why UK company 08961747 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08961747

- **Status:** Administration ended
- **Administration began:** 2016-02-18
- **Incorporated:** 2014-03-27
- **Location:** London
- **Industry:** 66110 Administration of financial markets

## Why it went into administration

- Supply chain disruption
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency

## From the administrators' statement

The Company was set up in 2014 with a view to improving supply chatn finance in relation to payments The Company’s model was to collect and analyse data from large organisations with the help of a purpose butlt algorithm to predict which suppliers to the organisation can be paid quicker In return for being patd quicker the supplier would offer the large organisation an early payment discount The Company would receive a proportion of the early payment discount for

assisting both the supplier and the large organisation

The Company hoped that its model would transform the market place for the supply chain

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08961747/filing-history/MzE0NzA5NDYxNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08961747

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.