Synchrony picks Fundbox to provide B2B credit for merchants
Fintech company Fundbox has partnered with Synchrony to make B2B credit available to the financial services firm’s merchant client base, reports Jane Connolly.
Customised consumer financing programmes
Fundbox built the first artificial intelligence (AI)-enabled business capital platform, designed to accelerate B2B commerce at scale.
Synchrony merchants will now be able to access the Fundbox service through Synchrony’s Business Centre and quickly apply for up to $100,000 in a revolving business line of credit, which can be available as soon as the next working day.
Eyal Shinar, founder and CEO of Fundbox, says: “With the increased availability of business data, advances in machine learning and the growth of APIs to make integration easier, Fundbox is bringing credit risk analysis and on-demand access to capital directly (to) the point of the B2B transaction.”
Synchrony was looking to provide merchants with “in-workflow” access to a credit service. The company offers customised consumer financing programmes across many B2C industries and has generated $140 billion in sales.
