Fundbox, the embedded capital infrastructure provider for small businesses, announced a partnership with Wave, the financial management technology platform trusted by more than 350,000 small business owners and solopreneurs. Via this collab, Fundbox’s financing solutions are now said to have been directly integrated into Wave Perks, which is deascribed as Wave’s new hub for tools and services that “help small businesses manage and grow, all in one place.”
With this latest integration, Wave customers are able to explore and then apply for capital in a few clicks. This partnership is now intended to help business owners manage cash flow gaps, “invest in growth, and keep their operations running smoothly.”
Fundbox’s capital engine evaluates a business’s financial profile by analyzing data from multiple sources, “including invoices, bank transactions, and other financial indicators.”
This data-driven approach allows Fundbox to deliver “inclusive credit decisions tailored to each business’s needs.”
By connecting Fundbox’s capital infrastructure with Wave’s financial management suite, small businesses “can manage their finances and access credit from a single, unified platform.”
The partnership underscores both companies’ shared mission “to simplify financial management and support the growth of small businesses across North America.”
As noted in the update, Fundbox is the enabler of embedded capital products for SMBs, offering access to credit via the tools businesses currently use.
Since 2013, Fundbox claims that it has helped small businesses unlock more than $6 billion in capital. As the capital infrastructure behind the digital SMB economy, Fundbox enables platforms “to embed financial tools directly into their user experiences.”
As mentioned in the announcement, Wave Small Business Software offers money management solutions that enable small business owners and solopreneurs “to take control of their finances.”
As explained in a release, small businesses use Wave’s accounting platform, which includes “bookkeeping, invoicing, payroll, and payments solutions, as well as personalized bookkeeping and accounting coaching from Wave Advisors.”
Wave is now reportedly operating as a “fully owned subsidiary of H&R Block and is headquartered in Toronto, Canada.”
