U.S.-based firm Fundbox creates cash flow options for small businesses and announced earlier this week that it has partnered with time tracking and invoice company Harvest. The move is expected to give Harvest users access to Fundbox invoice clearing technology, which extends credit to freelancers and small businesses against the face value of their outstanding accounts receivables.
According to a Fundbox statement, this approach eliminates the one to three month gaps that typically exist between invoice and payment. That gap can be an even bigger hindrance to freelancers, the company said, because “outstanding invoices can tie up funds needed for rent, utilities, and other day-to-day basics.”
“Harvest shares very similar goals with our company in terms of whom we are working to help and creating the best possible products for those hard working people,” Fundbox founder and CEO Eyal Shinar said. “Both companies are working to serve the underserved. Connecting Fundbox to a Harvest account allows people to maintain the simple Harvest approach to the time tracking and invoicing side of their hourly business and still enjoy the cash flow benefits of using Fundbox.”
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