Two different needs
Purchase order financing is needed before delivery. The supplier has an order, but to fulfil it, it must first buy materials or goods. Banks in Kazakhstan describe such products as financing the costs of fulfilling an order under a signed contract, with payments under that contract serving as collateral.
Factoring is needed after delivery. Goods are shipped and invoiced, but the buyer pays on deferred terms. Banks describe factoring as financing a delivery without waiting for the buyer’s payment: the supplier gets money after shipment, and the debt is settled when the buyer pays.
A simplified comparison. The lender sets the exact structure, documents and terms.
| Question | Purchase order financing | Factoring |
|---|---|---|
| When it arises | Before delivery: an order is received and goods must be bought or produced | After delivery: goods are shipped and the buyer pays later |
| What the lender looks at | The order or contract, the buyer, the supplier’s fulfilment history | The invoice and delivery documents, the buyer’s payment record |
| Main risk | The supplier fails to deliver, so no payment comes | The buyer does not pay, or pays late |
| Where repayment comes from | Usually the buyer’s payment for the order, on the lender’s terms | The buyer’s payment for the delivery, under the factoring contract |
When it arises
- Purchase order financing
- Before delivery: an order is received and goods must be bought or produced
- Factoring
- After delivery: goods are shipped and the buyer pays later
What the lender looks at
- Purchase order financing
- The order or contract, the buyer, the supplier’s fulfilment history
- Factoring
- The invoice and delivery documents, the buyer’s payment record
Main risk
- Purchase order financing
- The supplier fails to deliver, so no payment comes
- Factoring
- The buyer does not pay, or pays late
Where repayment comes from
- Purchase order financing
- Usually the buyer’s payment for the order, on the lender’s terms
- Factoring
- The buyer’s payment for the delivery, under the factoring contract
What data a B2B platform holds
- Confirmed orders and their statuses
- Delivery, acceptance and return history
- Invoices and their payment terms
- How long and with whom the supplier has traded on the platform
- Buyer information, if the buyer agrees to disclose it
Events like these are already used in financing. In Halyk Bank’s digital factoring for public procurement, for example, the delivery and the act of completed work are signed on the public procurement portal.
This data helps a lender understand the transaction but does not replace its own checks. The lender may ask for statements, company documents and other information. Only data the supplier has consented to is shared.
Sources: 5
How it could work on a platform
Illustrative scenario
- 01
The supplier receives an order
A buyer places an order on the platform and the supplier confirms it.
- 02
Financing request
In the platform’s interface, the supplier chooses financing for the order and sees which data will be shared.
- 03
Consent
The supplier confirms sharing the order data and sales history with a specific lender.
- 04
Application to the lender
In the proposed model, CapVeni prepares an application with sources and gaps and routes it to the lender by its criteria.
- 05
The lender decides
The lender reviews the application, may ask for documents and, if it approves, states its terms.
- 06
Contract and payout
If the supplier accepts the offer, the lender signs the contract and pays out. The money does not pass through the platform or CapVeni.
This scenario is illustrative. CapVeni does not run this process yet, and the exact steps and documents depend on the lender.
Who does what
Proposed split of roles. The parties’ contracts set the final version.
| Task | Platform | CapVeni | Lender |
|---|---|---|---|
| Order and delivery data | Shares it with the supplier’s consent | Prepares the application: sources, dates, gaps | Assesses it and may ask for more |
| Supplier consent | Shows the request in its interface | Records the scope of consent | Receives data within the consent |
| Decision and terms | Not involved | Not involved | Decides and sets the terms |
| Contract and payout | Not involved | Not involved, funds never pass through CapVeni | Signs the contract and pays out |
| Transaction risk | Does not carry it | Does not carry it | Allocated by the lender’s contract with the supplier |
Order and delivery data
- Platform
- Shares it with the supplier’s consent
- CapVeni
- Prepares the application: sources, dates, gaps
- Lender
- Assesses it and may ask for more
Supplier consent
- Platform
- Shows the request in its interface
- CapVeni
- Records the scope of consent
- Lender
- Receives data within the consent
Decision and terms
- Platform
- Not involved
- CapVeni
- Not involved
- Lender
- Decides and sets the terms
Contract and payout
- Platform
- Not involved
- CapVeni
- Not involved, funds never pass through CapVeni
- Lender
- Signs the contract and pays out
Transaction risk
- Platform
- Does not carry it
- CapVeni
- Does not carry it
- Lender
- Allocated by the lender’s contract with the supplier
In some factoring arrangements, the obligation to pay can in certain cases stay with the supplier. The contract with the lender defines this, and the supplier should understand it before signing.
Sources: 3
When it fits and when it does not
It fits when orders repeat, the parties know each other, and delivery and payment data sits on the platform. It does not fit, or needs a separate check, in these cases:
- A one-off deal with no history between the parties
- An order the platform’s data cannot confirm
- Disputed deliveries or frequent returns
- The supplier needs general credit not tied to a transaction: a standard bank product makes more sense
Having data on the platform does not mean approval. The lender always decides under its own policy.
Where a platform can start
Pick one supplier segment and one need: buying for an order, or waiting for invoices to be paid. Check what order, delivery and payment data you hold and what can be shared with the supplier’s consent. Then discuss with a lender whether the use case fits. A pilot can start manually.
Sources
External pages open in a new tab. Banks and providers are cited as market examples, not as CapVeni partners.
- 1.Purchase order financing (in Russian) (opens in a new tab)Bank CenterCredit · accessed 6 October 2026Working capital to fulfil an order before sale proceeds arrive, secured by contract payments. Market example, not a CapVeni partner.
- 2.Contract financing (in Russian) (opens in a new tab)Nurbank · accessed 6 October 2026Financing the costs of fulfilling public or commercial contracts. Market example, not a CapVeni partner.
- 3.Factoring (in Russian) (opens in a new tab)Bereke Bank · accessed 6 October 2026Factoring as financing a delivery without waiting for the buyer’s payment, for businesses selling on deferred terms. Market example, not a CapVeni partner.
- 4.Factoring (in Russian) (opens in a new tab)Bank CenterCredit · accessed 6 October 2026The supplier is paid for goods after shipment when selling on deferred terms. Market example.
- 5.Digital factoring (opens in a new tab)Halyk Bank · accessed 6 October 2026Factoring for public procurement: delivery and the act are signed on the procurement portal. Market example, not a CapVeni partner.
Prepared by CapVeni from public sources; it describes a proposed model. This is not financial or legal advice. The lender sets the financing terms.