Apricity Finance, which provides invoice financing, has been placed in administration

Apricity Finance has been placed in administration and its website has been shut down.

Apricity Finance chief executive Linden Toll.

Apricity Finance which provides invoice financing solutions across a range of industries has been placed in administration and its website is no longer operational.

Apricity Transasia Finance Pty Ltd was placed in administration on Monday, with Alan Hayes and Wayne Marshall of Hayes Advisory appointed as receivers and managers.

That entity’s owner, Apricity Finance Group Pty Ltd has not been placed in administration.

Bowral-based Apricity offers an invoice financing product under which it would lend up to 95 per cent of the value of approved invoices to business borrowers.

“Apricity Invoice Finance offers a funding solution that is simple, reliable and fast,’’ a cached version of the company’s website says.

“By financing up to 95 per cent of approved invoices upfront, we remove the stress of waiting for big customers to pay their bills.

“We help you leverage your own assets without the need to take on additional debt, delivering cash flow surety and powering business growth.’’

The Australian contacted the administrators on Tuesday and expect an update on matters pertaining to the business later this week.

Apricity Transasia Finance’s directors are Linden Toll, who is Apricity Finance’s chief executive, and Andrew Meakin.

The company’s LinkedIn site says it focuses on high credit-quality customers “from a broad range of industries, from food growers, distributors, wholesalers, logistics operators, labour hirers, transport companies, and telecommunications and mining suppliers’’.

“Established in 2013, we’ve helped a wide range of small to medium sized businesses bring certainty to their balance sheets.’’

Apricity would advance customers 95 per cent of the face value of outstanding invoices, with the remaining amount, less Apricity’s 3 per cent fee, also paid to the customer for invoices paid within 30 days.

Calls to the Apricity phone number from the Australian on Tuesday were not answered.