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- 24 January 2022 19:51
Butn and Freightlancer enter strategic partnership
Butn (ASX:BNT) an automated end-to-end business transaction funder that assists SME businesses through their working capital constraints has entered a platform partnership with Freightlancer, Australia’s largest freight marketplace provider.
Freightlancer is a subsidiary of Freelancer Ltd (ASX: FLN) the world’s largest freelancing and crowdsourcing marketplace by number of users and jobs posted. Freightlancer simplifies the supply chain for freight owners and transport companies through its global freight marketplace and app, making the transporting of loads simple and transparent.
Butn will provide Freightlancer with a customised solution called 'Butn Terms', which combines features from across the Butn debtor finance and BNPL product range and is seamlessly integrated into the Freightlancer platform.
It will deliver a cashflow solution to the freight sector at this time of increased demand and pressure on global supply chains as it simplifies the way owners and operators can manage the demands of invoicing, providing them with an easy-to-use solution that offers terms against invoices on job completion.
Co-founder and Co-CEO of Butn, Rael Ross said, “This partnership with Freightlancer cements our position as a leading SME cashflow solutions provider in the freight sector. It’s another example of Butn’s competitive advantage, embedding into partner platforms, providing end business users with the cashflow they need in seconds. It allows Butn to leverage Freightlancer’s leading market position to deliver a powerful cashflow solution to their customers at this time of increased demand.”
Freelancer CEO Matt Barrie said, “With the ongoing COVID-19 pandemic elevating supply chain issues and freight deliveries, the demands on freight owners and operators have increased significantly. By integrating Butn’s platform into our leading marketplace and app, we are simplifying the way owners and operators can manage the demands of invoicing, providing them with an easy-to-use solution that offers terms against invoices on job completion.”
Rollout will occur in the first half of 2022, commencing with the Australian market. The agreement is for an initial term of two years.