News, views and analysis from the A/NZ tech sector
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Hi there,
Getting working capital isn’t easy, especially for small and medium sized businesses.
Enter a growing number of alternative cashflow solutions being lead by invoice financing as the lowest hanging fruit. In a crowded market, MYOB has taken it a step further, integrating invoice financing into its software through a partnership with fintech Butn.
The deal could help SMBs unlock cashflow by providing simple access to immediate payments on invoices - at the click of a (ahem) button.
It’s just one of an increasing number of deals being done as fintech comes of age. This week also saw the launch of Square Loans in Australia – its first financial services offering outside of the US. Last year MYOB rival Xero acquired cloud-based invoice lending platform Waddle while Australian BNPL player Zip Co, hot off announcing impressive financials, is throwing itself into the SMB market, offering a credit service of up to $150,000 to small businesses.
MYOB’s offering won’t initially be available in NZ, but with the rate of fintech deals currently underway it can only be a matter of time…
Enjoy the read,
Heather Wright
Editor
editor@istart.co.nz
In this issue
MYOB adds invoice financing at click of Butn
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