Brandwise selects Fintech Fundbox as finance partner
Fundbox, a Fintech company dedicated to simplifying the way businesses pay and get paid, said Brandwise has selected Fundbox as their exclusive business-to-business (B2B) trade credit and financing partner; leveraging the company’s B2Bpital platform to power financing terms for the Brandwise ecosystem of over 300,000 suppliers, agencies and retailers.
Brandwise is a sales technology platform that enables suppliers and sales agencies to sell efficiently to retailers. Through the company’s sales technology, they offer tools to: streamline digital presentations; automated order capture and order delivery; commission and invoice processing; sales and business intelligence; and an online B2B ordering site for retailers.
With Fundbox embedded in the Brandwise platform, suppliers will get paid as soon as the next business day after an order is captured, while approved retailers will get net-60 terms on all purchases up to their credit limit, from any registered supplier.
Agencies and suppliers will uncover more sales opportunities because retailers can avoid using credit cards, where functional limitations result in lost opportunities. As part of the Brandwise launch, Fundbox will enable sellers to authorize funds in a retailer’s credit limit to ensure those funds are earmarked and cannot be used until the sale is captured.
“By integrating with Fundbox, our goal is to provide Brandwise suppliers and agencies a competitive edge allowing them to add more value to their customers,” said Todd Litzman, president and CEO of Brandwise. “Retailers will benefit through extended terms and additional access to working capital. We believe that Fundbox can be a true growth catalyst no matter if your company is a supplier, agency, or retailer.”
With Fundbox, applying for business credit is fast, convenient and transparent. Those businesses seeking Fundbox Credit simply complete a short application form and then connect a business data source of their choice. Shortly thereafter, proprietary machine learning models help to quickly inform a credit decision outcome. For approved businesses, Fundbox provides access up to $100,000 in a revolving business line of credit. To date, Fundbox has facilitated over $1 billion in credit for growing small businesses.
“The process of providing or receiving terms in the world of B2B is slow, inefficient, and inhibits growth and, the ability to capture opportunities for businesses on both sides of the transaction,” said Sebastian Rymarz, Chief Business Officer for Fundbox. “There is a multi-trillion dollar economy locked up in terms which, if unlocked, will propel the B2B sector in ways that we can’t even imagine. Brandwise is in a unique position to understand the magnitude of this opportunity given the billions of dollars in transactions that flow through the company’s platform. As such, we felt that partnering with Brandwise made complete sense.”
Fundbox has received numerous awards for Fintech innovation including the prestigious Forbes Fintech 50, Forbes Billion Dollar Startup To Watch, Fintech Breakthrough Awards for Best B2B Payments Platform and, the Atlas Award for Best Israeli Startup among others.
For more information about the full line of Brandwise integrated sales tools and service, visit www.Brandwise.com.