Fundbox Strengthens Synchrony’s SMB Financing Position

B2B payments and finance company Fundbox is expanding its partnership with consumer financial services company Synchrony in a deal that will expand the latter’s position in small business funding.

In a press release issued on Thursday (March 28), Fundbox and Synchrony announced a collaboration that will enable Synchrony to link its small business customer base to financing by integrating Fundbox‘s artificial intelligence-powered business capital technology. The solution is geared toward merchants using the Synchrony Business Center, a holistic tool that helps merchants manage operations and implement financing solutions for their own customers.

Now, via the Fundbox integration, those same merchants can access capital themselves.

“At Fundbox, we have built our entire business experience around the needs of our customers, be they SMEs, B2B platforms, vendors or services like Synchrony,” said Fundbox CEO and Founder Eyal Shinar in a statement. “With the increased availability of business data, advances in machine learning and the growth of APIs to make integrations easier, Fundbox is bringing risk analysis and on-demand access to capital directly at the point of the B2B transaction.

“We are consumerizing B2B commerce in a way that no one else has done before, at a time when the B2B market needs it most,” he added.

In another statement, Synchrony Connect Senior Vice President Karen Nash Mirkin said the ability for merchant customers to seek a credit line “can make a huge difference in helping drive growth.”

In a recent interview with PYMNTS, Fundbox CBO Sebastian Rymarz gave additional details about the partnership that can link small businesses with up to $100,000 in revolving lines of business credit, which he said will address the “funding gap” that can prohibit small business growth.

“SMBs deserve more credit, and with more credit these firms can thrive,” he said, adding that Fundbox is able to integrate with bank accounts, invoicing, ERP and other kinds of data to obtain a holistic view of the small business and mitigate risk.