San Francisco, CA, March 28, 2019 (GLOBE NEWSWIRE) -- Today Fundbox, a leading Fintech company dedicated to simplifying the way businesses pay and get paid, announced a partnership expansion with Synchrony, one of the nation’s premier consumer financial services companies, to make credit available to Synchrony’s growing base of small businesses.
Leading the evolution in small business payments and credit, the award-winning Fundbox has built the first AI-enabled business capital platform, purposefully designed to accelerate small business payments and credit at scale. Fundbox provides a convenient credit solution and enables seamless integration of small business credit as a service within the existing Synchrony workflow.
The Fundbox Experience
With the new Fundbox implementation, Synchrony’s small business merchants who are interested in applying for a business line of credit can conveniently access the Fundbox service through Synchrony’s Business Center.
Applying for Fundbox is both convenient and fast. Interested Synchrony merchants simply complete a short application form and then connect with one-click a business data source of their choice. Within minutes, Fundbox’s proprietary machine learning models can facilitate a credit decision. And for those approved businesses, Fundbox provides access up to $100,000 in a revolving business line of credit.
Now, Synchrony can provide small business merchants with “in-workflow” access to Fundbox credit service at a time when they need it the most.
“At Fundbox, we have built our entire business experience around the needs of our customers, be they SMEs, B2B platforms, Vendors, or services like Synchrony,” said Eyal Shinar, Founder, and CEO of Fundbox. “With the increased availability of business data, advances in machine learning, and the growth of APIs to make integrations easier, Fundbox is bringing risk analysis and on-demand access to capital directly at the point of the B2B transaction. We are consumerizing B2B commerce in a way that no one else has done before at a time when the B2B market needs it the most.”
“Synchrony is constantly looking to provide our small business merchants with new tools and resources. With Fundbox, small businesses can apply for a credit line, which can make a huge difference in helping drive growth,” said Karen Nash Mirkin, senior vice president, Synchrony Connect. “We are looking forward to continuing our partnership with Fundbox to help our partners grow.”
About Fundbox
Fundbox is a leading technology platform focused on disrupting the $21 trillion B2B commerce market by building the world’s first B2B payment and credit network. With Fundbox, sellers (of all sizes) can quickly increase average order volumes (AOV) and improve close rates by offering more competitive net terms and payment plans to their SMB buyers. With heavy investments in machine learning and the ability to accurately assess risk in a matter of seconds, Fundbox is reimaging B2B payments and credit products in new category-defining ways.
Since the company’s founding in 2013, Fundbox has raised $150 million from a blue-chip group of investors led by Khosla Ventures, General Catalyst, Spark Growth Capital and Jeff Bezos, and is currently experiencing incredible growth momentum. Twitter: @fundbox.
For more information, please visit www.fundbox.com