Small businesses can get double the help in keeping ahead of their finances with a recently announced strategic partnership between FundThrough, a provider of invoice funding service; and Regus, a provider of flexible workspace solutions. Together, they are offering small business owners two critical ingredients for success and growth through one venue — a flexible workspace and the ability to eliminate cash flow hurdles. Regus’ leadership role in temporary office space will significantly expand the reach and awareness of FundThrough services, said Steven Uster, CEO and co-founder of FundThrough. “Regus has more than 100,000 small business customers across the country. Now every user in those offices has direct access to FundThrough either through the Regus dashboard or a Regus relationship manager. By integrating FundThrough services, Regus is now able to offer a broader solution to customers; not just office space.” FundThrough was established in June 2014 and is funded by venture capital firm, Real Ventures. Since its inception, business has doubled every quarter, Uster said. “Last year, the company saw a tenfold increase over the previous year.” The FundThrough/Regus partnership will be promoted via onsite promotion and events, as well as website and email collaboration and integration. Why choose FundThrough? It is the only fintech in Canada to offer invoice funding services, Uster said. “One of the primary reasons small businesses fail is lack of short-term capital. It’s not that they don’t have long-term prospects. But payments are often prolonged by 30, 60 or even 90 days. Many businesses that are growing need that money today. So our role is to bridge the gap between businesses selling or delivering a product or service and invoicing.” FundThrough charges fees on a per transaction basis, running in the range of one to two per cent per invoice. There are no caps on lending, as long as the goods or services provided generate an asset, Uster explained. “Once you have that sale, you have an asset you should be able to borrow against.” Uster said this latest partnership makes sense given the two companies share similar values. “We both champion small business by providing essential solutions. And with Regus’ national presence, we saw this is an effective way to service all those customers across the country. The relationship suits both of us, since our users overlap so nicely. Their customers are exactly our customer base.” Postmedia Network, which owns the National Post, has a financial arrangement with FundThrough, a fintech company.
FundThrough has announced a strategic partnership with Canadian fintech FundThrough, a provider of invoice funding service. The deal will allow Regus' 100,000 SME customers access to short-term capital using invoices as assets against which they can borrow. Together their offering will provide small business owners with a flexible workspace and the ability to eliminate cash flow hurdles.