Best Egg, the consumer lending brand of Marlette Funding, LLC, announced on Tuesday it has formed a strategic partnership with Invoice2go, a mobile app for small business owners and contractors to track work and get paid through invoicing, expense management, and online payments. This news comes just after Best Egg announced it exceeded $5 billion and celebrated its fourth birthday.
According to Best Egg, under this agreement, its financing solution will be made available through Invoice2go, so business owners using the app can help their customers access options to fund big-ticket projects. Invoice2go’s customers send more than $2 billion in invoices every month, positioning the partnership to make a significant impact on a sector where simple financing is scarcely available.
Best Egg also noted that the partnership between it and Invoice2go provides benefits to both the small business community and consumers. Small business owners gain an enhanced brand and marketing differentiator that improves their customer’s buying experience, making it easier for them to compete in the market, and win more business. Consumers gain access to a new financial outlet with straightforward credit products, removing the uncertainty of securing loans for individual payment transactions. Josh Tonderys, President of Best Egg, stated:
“This is our first step into point of sales finance and specifically home improvement. We are working together on intensive consumer research to evaluate the specific needs of future buyers and to become the go-to infrastructure behind top purchase financing brands.”
Greg Waldorf, CEO of Invoice2go, then added:
“Winning more business is at the top of nearly every small business owner’s agenda. More than half of Invoice2go’s customers operate in the construction and home improvement industries. We know that giving small businesses a way to help their customers access even small amounts of capital, can make a big difference when it comes to closing costly repair and renovation projects. Suddenly they can take on more lucrative jobs, and grow their business.”