Autobooks is launching Autobooks Capital, a short-term working capital software embedded straight into its platform and powered by Fundbox.
The embedded lending expertise helps monetary establishments retain small enterprise purchasers by providing quick, versatile funding with out requiring third-party apps or additional accounts.
By partnering with Fundbox, Autobooks is enabling over 2,000 monetary establishments to ship capital entry seamlessly inside their digital banking platforms.
Small companies usually face a irritating hole between sending an bill and getting paid. Fee and accounting platform Autobooks is searching for to alter that with the launch of Autobooks Capital, a funding product embedded inside the Autobooks platform. The brand new short-term working capital software is powered by embedded capital infrastructure supplier Fundbox.
With quick underwriting, aggressive charges, and versatile compensation choices, Autobooks Capital is designed to enhance conventional lending applications by serving to small companies entry working capital. By embedding Fundbox’s funding instruments straight into its platform, Autobooks allows monetary establishments to retain clients, compete with different lenders, and function the first working hub for small enterprise purchasers.
“Whereas Fintech 1.0 tried to sidestep monetary establishments, we imagine that working with banks the place small companies already handle their funds is essential to addressing the trillion-dollar SMB capital alternative,” mentioned Fundbox CEO Prashant Fuloria.
Teaming up with Fundbox will enable Autobooks to supply versatile funding straight inside its platform with out redirecting the borrower or requiring additional accounts. By inserting Autobooks Capital inside the Autobooks product suite, the corporate is ready to supply small enterprise homeowners working capital proper when and the place they want it. Autobooks’ product suite additionally consists of digital invoicing, fee acceptance, automated bookkeeping, and monetary reporting.
The embedded facet of Autobooks Capital is essential. Embedding lending instruments straight into digital banking platforms helps flip lending merchandise into seamless, context-aware experiences. As an alternative of sending small companies to third-party lenders or apps, Autobooks Capital meets enterprise homeowners the place they already handle money stream duties similar to invoicing, funds, and bookkeeping.
“The launch of Autobooks Capital provides monetary establishments a robust new approach to help small enterprise progress with quick, versatile funding, delivered proper inside digital banking,” mentioned Autobooks CEO Steve Robert. “By partnering with Fundbox and leveraging our distribution community of over 2,000 monetary establishments, we’re embedding capital entry straight into the banking expertise—in a method that enhances and doesn’t compete with monetary establishments. It’s seamless, intuitive, and constructed to assist bridge short-term money stream gaps for small companies.”
Based in 2013, Fundbox is a digital-first supplier of capital infrastructure for small companies. Its platform allows clients to seamlessly embed monetary instruments into their very own person experiences. So far, Fundbox has helped over 150,000 small companies entry greater than $6 billion in capital.
With greater than 2,000 monetary establishments in its distribution community, Autobooks is well-positioned to scale this providing quickly. As embedded finance continues to mature, embedded merchandise like Autobooks Capital shall be a profitable method for small companies to entry capital from inside their banking app.
Autobooks was based in 2015 and now serves greater than 60,000 small companies with a spread of instruments together with digital fee acceptance, on-line invoicing, on-line enrollment, accounting, bookkeeping, monetary reporting, billpay, and now lending. The corporate white labels its know-how to companies together with TD Financial institution, Alkami, Bottomline, CSI, FIS, Jack Henry, NCR, and Q2.
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