Helping UK small businesses grow safely and secure their cash flow by identifying the right partners to trade with. Part of Allianz X, the startup incubator by Allianz.

Service Design


Munich, DE



In the UK, 1 in 3 company insolvencies is caused by late or unpaid invoices. SMEs have no control over when they get paid, which leaves them unable to manage their cash flow. Additionally, SMEs have few affordable options to access credit insurance.

Crediful aims to provide small businesses with flexible and affordable credit options. The entrepreneurs behind this idea joined Allianz X for three months to validate their concept and seek investment.

Validating the problem and reframing the service offer.

SMEs are driven and eager to find new customers, but trusting customers is critical, as lack of payment will result in cashflow gaps. Interviews with SMEs highlighted cashflow difficulties and their struggle when requesting credit for growth or to mitigate the gaps. As a result, SMEs take their time building trust before doing business with new customers, which in return slows down their growth.

With these findings, Crediful shaped their offer as a combination of invoice factoring and credit insurance. The service included a credit checker for SMEs to verify the incurred risk when dealing with a specific customer or provider. Checking how reliable a partner is would allow SMEs to choose between switching to a different partner or opt for better insurance coverage. This helped SMEs build trust with their customers faster and at a lower risk.

Crediful's website - Detailed design by Marina Mangiat
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An experiment to test market fit.

Setting up the experiment.
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As part of the company building program at Allianz X, Crediful needed to validate the proposition and the customer's willingness to pay to estimate profit potential. This would allow Allianz to determine its investment in building the company further.

The experiment consisted of setting up digital and traditional campaigns to target prospective customers and direct them to Crediful's website, which was simple but allowed users to experience the credit checker first hand. A critical feature to showcase the service's value proposition. 

'Go or No-Go' moment

During the experiment, we measure conversion from different channels and used heat-maps to quickly find and fix usability issues to optimize the funnel. Some of the leads were also interviewed at a later stage to further understand the benefits and challenges that Crediful would have if being launched. However, after the accelerator program, Allianz X didn't move forward with Crediful.

Overview of the experiment.
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