What it means for anyone running company finance
Open your receivables aging report: three hundred thousand euros past ninety days. Open the payables one: that same week you owe suppliers a comparable amount. Put the two lists side by side and the names do not match. The companies that owe you money and the companies waiting on you are different companies. Nothing to offset, or so it looks.
The chain that would close your position does exist, and it runs through companies on neither list. Your customer’s customer. Your supplier’s supplier. A loop three or five steps long, crossing balance sheets you cannot reach, invisible from where you sit.
Why the whole graph matters
Anyone who cross-checks two ledgers can find a bilateral offset. The money sits in the long cycles, and finding those means looking at the entire graph of receivables and payables rather than the slice inside your own accounting system. If A owes B, B owes C and C owes A, the three positions cancel down to the smallest of the three. None of them pays interest. None of them waits ninety days. And none of them, on its own, knows the cycle is there.
Camera di Compensazione builds that graph and queries it. The Nexyzen algorithm looks for closed chains across several companies and settles them in one pass, with no cash moving. Since this summer Nexyzen has been part of the Fintech District Community.
What Fintech District is
Fintech District is the Italian fintech community: 316 fintech and techfin companies, more than forty corporates, around twenty law and consulting firms, and over forty ecosystem partners spanning trade associations, international hubs and universities.
It started in Milan in 2017, at via Sassetti 32. Fabrick runs it today, the Sella Group company built around open finance, which merged it with dpixel in 2024. Fourteen unicorns sit in the community, Revolut and Klarna and N26 among them, and about a third of the members come from outside Italy.
The fintechs sit in twelve verticals, and the counts show where the Italian market concentrates: Tech Fin holds 98, Smart Payments & Money Transfers 49, Wealth Management 33, Insurtech 25. Then RegTech, Crypto & DeFi, Lending, Real Estate, Neo Banks.
The District works on three fronts. It connects fintechs with large companies hunting for innovation to pass on to their own clients, which they call Open Innovation. It helps foreign fintechs set up in Italy through a soft landing programme. And it publishes research on the sector, starting with the Italian Fintech Map.
The invoicing vertical
Nexyzen sits in Invoice & Tax Management, a vertical of sixteen companies. Our neighbours are names any finance team recognises: Workinvoice and CashInvoice on receivables marketplaces, C2FO on dynamic discounting, A-Cube API and Fiskaly on e-invoicing infrastructure, TaxMan and FinBooks on tax compliance.
We closed the process in July by signing the Memorandum of Understanding and completing the onboarding forms, with Giovanni Caccavello, Fintech Community Manager at the District, walking us through each step. The Nexyzen logo went online this summer.
What we want from the community
Nexyzen runs on invoices. The number of cycles the algorithm finds grows with the density of the graph: every company that joins brings its own positions and every new chain those positions open up. Few connected nodes, few results. Many nodes, many results, and the curve bends upward.
The invoices, though, do not sit with us. They sit in the accounting software your finance team opens each morning, and in the provider that files the XML with SdI, the exchange system run by the Italian Revenue Agency. Those are our natural counterparts, and that is where the District takes us. The e-invoicing providers share our vertical. Among the ecosystem partners is AssoSoftware, the association that has represented Italian business and tax software vendors since 1994 and that defined the coding standard for B2B electronic invoices.
Poste Italiane, Banca Sella, VISA, Fastweb and Toyota Financial Services sit among the District’s corporates. These are companies at the head of long supply chains, with thousands of small suppliers waiting to be paid. That is the exact topology where multilateral clearing pays off most.
What changes on your balance sheet
The gain arrives when clearing stops being a separate service to activate and becomes a function inside the tool you already use. That is what we are building toward: Nexyzen inside ERPs and invoicing platforms, so your finance team sees the clearable positions on the same screen where it books the invoices.
In the meantime, the numbers that move are the ones you take to the board. Less reliance on invoice discounting lines and overdrafts, so lower financial charges below the EBITDA line. DSO and DPO shortening together, without you renegotiating terms with anyone. Net financial position improving because you retired debt rather than refinanced it. And one risk fewer: every closed chain removes a default that could have travelled up the supply chain.
None of this calls for new capital. It calls for the right counterparties to be on the same network, which is why joining Fintech District counts for more than a logo on a page.
The months ahead
Now the real work starts: meeting the software houses and providers in the Community, working out which ones to integrate with first, and putting the model in front of corporates whose supply chains run deep enough to benefit.
If you run finance at a company that buys and sells across layered supply chains, and you want to know how much of your exposure is clearable before you open an account, write to us.