SnelStart adds value to platform with Invoice Financing
SnelStart is constantly looking for ways to make things easier for entrepreneurs. One way is by helping them save time and gain insight into their finances by automating their bookkeeping. And they recently added a new innovative solution. With a unique Agile partnership, Rabobank and SnelStart offer entrepreneurs the financial room they need to grow via Embedded Lending.
Embedded Lending allows Rabobank to offer loan-related products via its partners’ platforms. “Embedded Lending is still in its infancy in the Netherlands”, explains Martijn Kwant, Head of Strategy & Innovation Business Clients Rabobank. “So we prefer to work together with partners to discover how we can be as relevant as possible for their customers. We start with small experiments before we design a full integration.”
The first experiments have already proven a success, as illustrated by the high level of interest among SnelStart users. Not just in Invoice Financing, but also other financing products that could be integrated as well.
From pilot to full integration
One pilot project involves Invoice Financing via the SnelStart platform. The two partners use Agile work methods to examine how the implementation and integration progress, in order to improve them step-by-step. Testing small, and rolling out big is our goal. Rabobank is always looking for similar businesses that want to set up pilot projects together in the field of Embedded Lending.
How financing works via the SnelStart platform
In the SnelStart platform, entrepreneurs can find a button they can click to submit a request to finance an invoice. That way, they don’t need to wait until the debtor has paid the invoice, and they can keep their working capital available for expenditures. The entrepreneur can submit the Invoice Financing application in only 15 minutes. Once the request is approved, the money is transferred to the entrepreneur’s account within 24 hours. With this service, SnelStart and Rabobank have taken important steps in the field of Embedded Lending. The intention is that entrepreneurs will eventually be able to arrange Invoice Financing entirely within the SnelStart platform. In addition to the integration of Embedded Lending, SnelStart also uses Rabobank’s Boekhoudkoppeling bookkeeping link, and Rabobank customers can purchase SnelStart with a discount from the RaboStore.
Would you like to offer Invoice Financing, just like SnelStart?
Would you like to learn more about Invoice Financing, or to discuss how the service can enrich your platform? Then please feel free to contact us!