Autobooks has unveiled Autobooks Capital, a brand new embedded lending platform developed in partnership with Fundbox that can enable small companies to entry short-term working capital instantly inside their digital banking platforms.
Autobooks, a supplier of built-in receivables, payables, accounting, and money move instruments, introduced the brand new function on Monday. The corporate says Autobooks Capital will present quick, versatile financing to small enterprise customers with out redirecting them to third-party platforms or requiring extra accounts.
The embedded lending function is constructed utilizing Fundbox’s capital infrastructure, which helps real-time underwriting and supply of funds. In response to Autobooks, this integration permits monetary establishments to supply seamless funding experiences to their small enterprise prospects in the mean time they want capital, reinforcing the financial institution or credit score union because the central hub for enterprise operations.
“The launch of Autobooks Capital offers monetary establishments a robust new technique to help small enterprise progress with quick, versatile funding, delivered proper inside digital banking,” mentioned Steve Robert, CEO of Autobooks. “By partnering with Fundbox and leveraging our distribution community of over 2,000 monetary establishments, we’re embedding capital entry instantly into the banking expertise — in a manner that enhances and doesn’t compete with monetary establishments. It’s seamless, intuitive, and constructed to assist bridge short-term money move gaps for small companies.”
Autobooks Capital is absolutely built-in into the corporate’s present product suite, which incorporates digital invoicing, fee acceptance, automated bookkeeping, and monetary reporting. The capital entry device provides quick approval occasions, aggressive rates of interest, and versatile reimbursement choices. Enterprise house owners can apply for and obtain funds with out leaving their on-line or cell banking platforms.
For small companies, this might imply quicker entry to funding for functions like restocking stock, overlaying payroll, or increasing operations. For monetary establishments, Autobooks Capital is positioned as a device to assist them retain buyer relationships and compete with fintech lenders by providing fashionable capital options with out pushing customers off-platform.
“We’re thrilled to convey Fundbox’s capital engine to Autobooks’ platform,” mentioned Prashant Fuloria, CEO of Fundbox. “Whereas Fintech 1.0 tried to sidestep monetary establishments, we consider that working with banks the place small companies already handle their funds is vital to addressing the trillion-dollar SMB capital alternative.”
The transfer displays broader tendencies within the small enterprise finance house, the place demand is rising for embedded monetary merchandise that simplify entry to credit score and help money move administration. Moderately than constructing parallel methods, Autobooks and Fundbox are working inside the present frameworks of group banks and credit score unions to supply digital-first options with minimal friction.
Autobooks says the embedded lending answer is very well-suited for the 1000’s of small and mid-sized companies already utilizing the platform as a part of their financial institution or credit score union’s digital providing. The corporate emphasised that this mannequin helps banks by integrating with their companies, fairly than competing towards them.
Autobooks Capital is offered now to monetary establishments utilizing the Autobooks platform.