Fundbox, a leading cash flow optimization platform for small businesses, and Zoho, a cloud-based business operating system, today announced a partnership in which Zoho will offer Fundbox to its user base in the U.S. Under the partnership, Zoho will provide access to Fundbox’s technology to streamline and automate the business borrowing experience within the Zoho ecosystem.
“Cash flow is the lifeblood for many small businesses. The ability to accurately track their finances and project working capital needs is a fundamental advantage when using Zoho Books and Zoho Invoice,” stated Zoho Corp president Raj Sabhlok. “Now, our customers can not only recognize cash flow gaps, but get the cash they need from Fundbox in a few clicks and keep their businesses running smoothly.”
Fundbox addresses one of the biggest pain points for small businesses and freelancers: cash flow. A recent Fundbox study revealed that 64 percent of small businesses are adversely affected by late payments. Over 80 percent of small business invoices are over 30 days due. This integration will allow Zoho customers approved for Fundbox Credit to advance funds tied up in their receivables so they can focus on business growth.
“We are thrilled to extend our reach to Zoho’s customers in the U.S. and enable them to solve their cash flow gaps,” added Fundbox CPO Prashant Fuloria. “Fundbox addresses an immediate need: paying small businesses for the work they’ve already done, and is dedicated to providing them with previously unimaginable financial options.”
Launched in 1996, Zoho seeks to provide the necessary applications to run an entirely cloud-based business utilizing online accounting software designed for small businesses. Fundbox has developed a tech-powered tool that employs advanced underwriting algorithms and deep learning capabilities to advance funds tied up in outstanding invoices, helping business owners eliminate their cash flow challenges and grow their business.