San Francisco, CA, May 01, 2019 (GLOBE NEWSWIRE) -- Today Fundbox, a leading Fintech company dedicated to simplifying the way businesses pay and get paid, announced that the sales technology leader Brandwise and Fundbox have entered into an exclusive agreement whereas Fundbox will be Brandwise’s business-to-business (B2B) trade financing partner. Brandwise will leverage Fundbox’s business capital platform to power financing terms within the Brandwise ecosystem of 250,000 retailers. One of the immediate benefits that Brandwise customers will experience is the ability to accelerate approved payments between suppliers, agencies and the retailers they serve.
Brandwise is an award-winning sales technology platform that enables suppliers and sales agencies to sell efficiently to retailers. Through the company’s studio of sales technology, they offer tools to streamline digital presentations, automated order capture & order delivery, commission & invoice processing, sales & 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 with a competitive edge by allowing them to qualify and then transact faster with 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.”
Fundbox has been leading the way in using machine learning to analyze the transactional data of an applicant’s business and then compare the business’s financial composite against the millions of statistical insights gathered within the company’s proprietary Small Business Graph. These insights then help to inform an approved or declined credit decision outcome.
“It’s an exciting time to be a financial services provider. The rise of cloud computing, APIs, and heightened competition is driving a new ecosystem-based business model. Creative combinations of product and distribution are yielding win-wins for both providers and their customers,” Alenka Grealish, senior analyst, Celent.
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 to medium 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.
About Brandwise
Brandwise is an integrated solution providing powerful technology tools for suppliers and agencies. They help reps be more valuable to their retailers by arming them with engaging digital presentations, intuitive order capture tools, sales order management, and automated order delivery, B2B e-commerce websites, and robust data to guide purchase decisions. All solutions are backed with industry-leading support and over 20 years of leadership in the wholesale industry from Brandwise.
For more information about the Brandwise Studio integrated sales tools and services, visit www.Brandwise.com, email sales@brandwise.com, or call 877-435-3225.
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 quickly analyze the transactional data of SMB’s, Fundbox is reimagining 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 about Fundbox, please visit fundbox.com