Pete Thomas

About Pete Thomas

Struggling to get a true picture of your receivables risk? You\'re not alone, most asset-based funders are flying blind.In receivables finance, everyone says \"trust but verify.\" But verification is broken. Funders rely on borrower-provided data, spot-check a fraction of invoices, and hope nothing slips through. Then a BroadRiver loses $2.3M to fabricated receivables. Or HSBC arranges a facility with a £780M hole that blows up an entire UK refinery.The pattern repeats: pressure builds, invoices get creative, the facility explodes.I co-founded Kapwork because I saw this problem from the inside. At C2FO, I spent 14 years building early payment systems for enterprise supply chains. I watched large corporates take great advantage of their vendors, waiting four months to pay them, while on the other side, I saw how ridiculously hard it is for these same vendors to fund the gaps.My journey:‍ 2006–2010: Built financial software systems, saw how data moved (and didn\'t) between parties 2010–2024: CTO and Chief Innovation Officer at C2FO, scaling invoice-based financial products to billions in transaction volume 2024: Co-founded Kapwork to automate invoice verification at the source of truth: debtors\' vendor management systems and emailBanks and specialty finance firms can\'t verify what they can\'t see. Clients send reports. Funders manually sample-check. Everyone hopes the invoices are real, the customers exist, and the amounts match. But hope isn\'t a risk model.How Kapwork solves this:We verify invoices precisely where your clients\' debtors acknowledge them to be real: vendor management systems and email threads. You see what\'s actually recorded, not what clients choose to send you. Real-time, complete data. No more sampling. No more hoping.How I can help you:1⃣ For asset-based lenders, factors, and structured finance teams: Book a demo at kapwork.com. We\'ll show you how to verify your clients\' invoices continuously, without adding work to your team.2⃣ For businesses who want to unlock more funding, faster: If you\'re creditworthy but stuck waiting for manual verification cycles, we give your funder the confidence to deploy more capital. Get in touch.3⃣ For industry observers and risk professionals: Follow me for posts on receivables fraud patterns, verification failures, and what\'s actually happening in structured finance when facilities blow up.The receivables market has systemic verification risk. Every fraud case: Greensill, Stenn, BroadRiver, Prax, follows the same script. We\'re building the infrastructure to rewrite it.

Experience

1. Co-founder, CTO

   Kapwork

   Aug 2024 — Present · Seattle, WA, US

   Helping asset-based lenders, structured finance teams, and invoice factors scale their receivables verification process to deploy more funding more quickly and calibrate risk-adjusted returns.

Education

• The University of Kansas

  Bachelor of Arts - BA

Skills

• Agile Methodologies
• Cloud Computing