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FreshBooks, a leader in cloud-based accounting software for small businesses, partners with YouLend to launch a flexible financing solution for more than 100,000 customers across the US.
As part of its mission to empower small businesses, FreshBooks has built a comprehensive financing platform that enables its customers to access capital on demand and accelerate their business growth.
- Through the partnership, eligible businesses can now apply for funding ranging from $1,000 - $1 million.
- The funds can be used for any business purpose such as buying inventory, hiring staff, or simply boosting cash flow.
- Instead of paying a fixed monthly repayment, business owners can pay a small percentage of their daily card transactions, giving businesses peace of mind that repayments will be hassle-free and proportionate to their income.
“Small businesses are the engine of growth in the US economy. We want to make it as easy as possible for them to access the capital they need. That’s where YouLend’s revenue-based finance can help them get started on the route to consistent, reliable growth and position FreshBooks as the preferred accounting platform for SMBs.” - Sebastian Morale, International Strategic Partnerships, FreshBooks
FreshBooks' mission: To become an all-in-one accounting and financial platform for their customers
FreshBooks' accounting platform is built on prioritising customers and delivering service with transparency and flexibility. With their tools, owners can accurately track their cash position, forecast future revenue and manage their payments and payables.
The next step for FreshBooks was to help customers actively manage cash flow through access to business capital. This would help them to close liquidity gaps, take advantage of new opportunities and expand their ambitions.
YouLend’s solution: A cutting-edge, white-labeled journey with 85% renewal rate
FreshBooks decided to partner with YouLend based on YouLend’s modern financing infrastructure and strong focus on customer experience. Given the seamless, white-labeled nature of integration required, YouLend presented several key advantages over incumbent players in the market. Such as:
- Proven track-record of best-in-class customer service with a 4.9 TrustPilot rating
- 9 out of 10 customers approved for same-day funding with advanced, AI-driven underwriting
- 85% renewal rate of customers across 8+ geographies
“Cloud accounting platforms like FreshBooks have transformed the way small businesses manage their finances. YouLend is proud to help power the next step in this journey by providing them the access they need to take an active role in shaping up their financial future.” - Mathias Soberg, VP of Operations US, YouLend
Results: Powering finance for 100,000 US businesses
Today, FreshBooks can offer 100,000 business customers flexible, revenue-based funding options with the potential for same-day offers and approvals. YouLend’s robust risk-management and underwriting capabilities deliver fast, flexible and affordable offers so that small business owners can choose the right option for their business.
Since YouLend is fully integrated into the FreshBooks platform, customers can apply for and receive funding in as little as 24 hours, and YouLend works as an extension of a brand they know and trust.
In the future, YouLend and FreshBooks are working to expand their partnership to offer more products to propel SMB growth and help businesses unlock their full potential.
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