Cashflowpal launches Founders Club
Fintech startup Cashflowpal this week launches its new online platform ‘Founders Club’. The new platform allows the owners and managers of small and medium-sized businesses to improve the management of their cash flows.
The platform provides access to all the various services already provided through Cashflowpal in one simple platform. Blake Fischer, one of the main developers of the new platform summarized the key benefits: “from improving a company’s credit score through financial data-sharing before applying for a loan on a crowdlending platform, to allowing potential high net-worth investors to see the true value of your business, Founders Club provides the best way to get your business to focus on what’s important: running your business”.
Medium-sized business owners and senior managers often deal with late payment of their invoices, and Cashflowpal already assists with this. By sharing their accounting data, members of Founders Club can get preferential credit insurance on their invoices, and also gain access to crowd-lending platforms with more accurate credit scores. If a company’s financials are strong, it isn’t always easy to convince lenders of this. But by sharing full financial transaction history, this problem no longer exists.
When a business has sent out an invoice, but hasn’t yet received payment, this could cause serious cash flow problems. The solution is usually to obtain trade credit finance on these outstanding invoices. The new Founders Club platform promises to go a step further, combining several services in one easy solution.
During its initial launch period, the platform is providing additional benefits to businesses that join early. Talks are underway with a number of other fin-tech providers and large insurance companies to partner with the platform to provide additional benefits to its members.