Novuna Business Finance Review
Novuna (formerly Hitachi Capital) offers invoice factoring and discounting with advance rates up to 90%, funding often released within 24 to 72 hours, through its Novuna Business Cash Flow arm. Novuna is the trading style of Mitsubishi HC Capital UK PLC, part of Mitsubishi HC Capital Inc., so it combines a large international balance sheet with a UK-focused service team. Novuna does not publish its service charge or a minimum turnover: both are quoted case by case.
What this page covers
This page covers
Novuna invoice finance advance rate, funding speed, published pricing and parent ownership
Not covered here
General invoice finance education (see /guides/), sector pages (see /industries/), the full provider directory (see /providers/)
Key Facts
Pros and Cons
Strengths
- Part of Mitsubishi HC Capital, a large diversified finance group
- Advances up to 90%, with a 6-month trial period before a rolling contract
- Strong technology platform
- Combined with asset finance and vehicle finance
- Good for businesses needing multiple finance products
Limitations
- No published pricing or minimum turnover, so you cannot compare without a quote
- Brand less well-known since the Hitachi rebrand
- Can be more rigid on terms than independents
When Novuna Business Finance Fits
-
Manufacturing businesses turning over £500k-£5m
Novuna's heritage as Hitachi Capital means they understand long production cycles and complex supply chains. Advances of up to 90% help bridge the gap between component purchase and customer payment in engineering and production sectors.
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Distribution and wholesale companies with £250k+ turnover
Novuna prices each facility individually rather than publishing a rate card, which can work in your favour if you have a clean, well-spread ledger. Being part of Mitsubishi HC Capital provides confidence for businesses managing high-value stock lines.
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Established service businesses seeking confidential facilities
Novuna offers both factoring and discounting, so professional services firms (recruitment, IT, consultancy) can access invoice finance without clients knowing, protecting long-standing relationships.
When to Look Elsewhere
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Start-ups under 12 months trading or below £100k turnover
Better fit: Triver. Triver funds individual invoices from £100 for UK limited companies and LLPs with no published minimum turnover, where Novuna underwrites a whole facility and quotes case by case.
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Construction subcontractors needing same-day funding
Better fit: IGF Invoice Finance. IGF specialises in construction, including applications for payment and retentions, which mainstream funders like Novuna handle less comfortably.
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Businesses invoicing consumers (B2C) rather than trade customers
Better fit: Close Brothers. Close Brothers has specialist consumer debtor assessment teams for B2C invoicing; Novuna focuses primarily on business-to-business trade.
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Companies needing very large facilities over £10m
Better fit: HSBC Invoice Finance. HSBC Invoice Finance handles facilities into eight figures with dedicated corporate teams, while Novuna's invoice finance arm is aimed at the SME market.
How Novuna Business Finance Compares
| Provider | Type | Min turnover | Fee from | Advance to | Speed |
|---|---|---|---|---|---|
| Close Brothers | both | £750k | Not published | Up to 90% | 5 working days |
| Bibby Financial Services | both | Not published | Not published | Up to 85% | 5 working days |
| IGF Invoice Finance | both | £5m | Bespoke | Up to 90% | 10 working days |
| Skipton Business Finance | both | £100k | Not published | Up to 90% | 5 working days |
Source: Market Invoice structured provider dataset (src/data/providers.ts). Rates are starting service charges for a lowest-risk profile, not published rate cards: most UK funders quote per facility.
vs Close Brothers: Close Brothers has deeper retail and consumer debtor expertise, whereas Novuna focuses on B2B manufacturing and distribution with Mitsubishi HC Capital behind it.
vs Bibby Financial Services: Bibby operates internationally, which makes it the stronger pick for exporters; Novuna's invoice finance arm is UK-focused.
vs IGF Invoice Finance: IGF specialises in construction and recruitment with sector-specific underwriting; Novuna serves broader sectors with manufacturing and distribution heritage from the Hitachi Capital days.
vs Skipton Business Finance: Skipton is backed by a UK building society; Novuna is part of Mitsubishi HC Capital, a large diversified finance group rather than a bank.
Illustrative worked example
Hypothetical: a Midlands precision engineering business with £850,000 turnover supplying automotive components
Not a real client. Cash freed is 85% of £70,000; the service and discount charges depend on the quote Novuna gives you.
Setting Up With Novuna Business Finance
- 1
Initial discussion and business review
Contact Novuna directly or through a broker. They will review your turnover, sector fit and debtor ledger. Expect an initial phone assessment, followed by a document request for the last 12 months' accounts, sales ledger, and details of your largest customers.
- 2
Credit assessment and facility proposal
Novuna's underwriting team assesses your customers' creditworthiness, not just your business. You will receive a formal facility proposal showing the advance rate (Novuna advertises up to 90%), the service charge it has quoted you, and any discount charge if funds are drawn. Ask for the full fee breakdown in writing at this stage, because Novuna does not publish a rate card.
- 3
Documentation and first funding
Once terms are accepted, legal documentation is prepared. You will need to notify your customers if choosing factoring, or keep it confidential under invoice discounting. Novuna advertises same-day funding and states that funds are often released within 24 to 72 hours, and offers a 6-month trial period before the rolling contract starts.
FAQs
What happened to Hitachi Capital and is Novuna the same company?
Hitachi Capital (UK) PLC changed its legal name to Mitsubishi HC Capital UK PLC and switched to the Novuna brand on 14 February 2022. That followed the 2021 merger of Hitachi Capital Corporation and Mitsubishi UFJ Lease & Finance, which created the parent, Mitsubishi HC Capital Inc. It is a diversified finance and leasing group, not a bank. Same legal entity, same teams, same product range; the invoice finance arm now trades as Novuna Business Cash Flow.
What service charge does Novuna advertise?
None. Novuna does not publish a service charge or a rate card for invoice finance: it states only that costs "typically include a service fee and a finance charge, which vary depending on invoice volumes, customer risk, and facility structure". Any percentage you see quoted for Novuna elsewhere is someone's estimate, not a published rate, so get your own written quote and compare it against at least two others on total cost of funds.
Can I use Novuna invoice finance if my customers are other large manufacturers or retailers?
Yes, Novuna actively targets this scenario given their manufacturing heritage. They're comfortable funding invoices to large corporates and blue-chip retailers because these debtors are easier to credit-assess. In fact, businesses invoicing household-name customers often secure higher advance rates (closer to 90%) and lower service charges because the credit risk is minimal compared to invoicing small unknown firms.
What's the difference between choosing factoring or discounting with Novuna?
With factoring, Novuna manages your sales ledger, chases payment, and your customers pay them directly (they are notified of the arrangement). With confidential invoice discounting, you retain full control of collections and customers are not told about the facility.
Discounting generally needs stronger in-house credit control; Novuna does not publish a separate turnover threshold for it. Manufacturing and distribution clients often prefer discounting to maintain direct customer relationships built over decades.
How quickly can I access money after submitting an invoice to Novuna?
Novuna advertises same-day funding and says cash is often with you within 24 to 72 hours. You upload or email the invoice, Novuna verifies it against the sales ledger and credit limit, then transfers the agreed advance (up to 90%) to your bank account. The reserve, the remainder minus fees, is released when your customer pays, usually on their normal payment terms.
Our Verdict
Novuna is a solid mid-market option backed by serious financial muscle. If you need multiple finance products (invoice finance plus asset finance or vehicle finance), their combined offering is convenient. The Hitachi-to-Novuna rebrand has caused some brand confusion, and the invoice finance arm now trades under a third name, Novuna Business Cash Flow. The bigger practical drawback is that nothing about the pricing is published, so you cannot benchmark Novuna without asking for a quote.
Sources: Novuna invoice finance and Novuna Business Cash Flow (advance rate, funding speed, pricing statement) · Companies House 01630491, Mitsubishi HC Capital UK PLC · Mitsubishi HC Capital UK, rebrand announcement
Sources
- Novuna Business Finance: advance rate
- Novuna Business Finance: setup time
- Novuna Business Cash Flow
- Novuna invoice finance
- Companies House 01630491, Mitsubishi HC Capital UK PLC
- Mitsubishi HC Capital UK, Novuna rebrand announcement
- Companies House record (01630491)
Figures without a link above, including starting service charges, are Market Invoice research estimates: most providers do not publish a rate card and price each facility individually. Checked September 2026.
Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.
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