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Get my 3 quotes →Stenn, once a well-known UK cross-border invoice finance specialist, was put into administration on 4 December 2024 after an application by HSBC Innovation Bank (Trade Finance Global). It no longer offers new facilities. UK exporters and importers who would once have looked at Stenn can compare bank trade finance teams, independent invoice finance providers that fund overseas debtors, and selective cross-border specialists instead.
Stenn entered administration on 4 December 2024 and no longer offers new facilities. UK exporters should compare HSBC, Bibby Financial Services, Close Brothers and Accelerated Payments; importers should look at trade finance, letters of credit and purchase order finance. More detail + scope
This page covers
What happened to Stenn, and the UK import/export finance alternatives to compare instead
Not covered here
Full Stenn history (see /blog/whatever-happened-to-stenn/), provider reviews (see /providers/), export credit insurance specifically
Why Cross-Border Is Different
Cross-border B2B receivables add layers that UK-domestic invoice finance doesn't handle natively: currency conversion, foreign-jurisdiction credit checks, country-risk pricing, customs and shipping documentation, and non-payment recovery that doesn't rely on UK county courts. Not every UK provider funds overseas debtors, so ask each one which countries and currencies it will cover before you apply. The full story of Stenn's collapse is in Whatever happened to Stenn.
Where to Look Instead
| Need | Routes to compare |
|---|---|
| Export receivables, multi-currency | HSBC, Bibby Financial Services, Close Brothers |
| Selective cross-border invoices | Accelerated Payments |
| Paying overseas suppliers | Purchase order finance and import finance |
| The whole export picture | Export finance hub |
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Stenn and Import/Export Finance FAQ
What happened to Stenn?
Stenn, a London-based invoice financing business, was put into administration on 4 December 2024 after an application by HSBC Innovation Bank, with Interpath Advisory appointed as administrators. It had reached a reported valuation of £700 million in 2022 and had deployed almost £8 billion to companies in 70 countries, according to Trade Finance Global. It is not an option for new import or export finance.
Who owned or backed Stenn?
Stenn was an independent fintech. Trade Finance Global's report on the administration lists past investments from Barclays, Natixis and Crayhill Capital Management. We have not found any source showing it was acquired by a bank.
What should UK exporters use instead?
For export receivables, compare a bank trade finance team (HSBC is the deepest on multi-currency and letters of credit), an independent invoice finance provider that funds overseas debtors (Bibby Financial Services, Close Brothers), and a selective cross-border specialist such as Accelerated Payments. Our export finance hub covers the options in detail.
What should UK importers use instead?
Importers usually combine a trade finance line or letter of credit for supplier payments with invoice finance once goods are sold. Purchase order finance providers such as Optimum Finance and Nucleus Commercial Finance, or a broker like Trade Finance Global, can fund supplier payments. See our import finance and purchase order finance hubs.
I had a facility with Stenn. What happens now?
Administrators, not Stenn, now handle outstanding matters, so check correspondence from Interpath Advisory and take independent advice. If you need replacement funding, a whole-of-market comparison can match you to a UK provider that funds cross-border receivables.