Working capital solution Clearco, focused on eCommerce firms, is expanding its collaboration with capital marketplace Boundless.
In a Wednesday (Dec. 4) news release, the companies said they will integrate their technology to allow for a “seamless handoff” for eCommerce companies during the funding process.
According to the release, Clearco is the first eCommerce financial services solution to offer a direct application programming interface (API) integration with a partner, directly between platforms, with Boundless the first partner at Clearco to support the automated integration.
“Our integration with Boundless represents Clearco’s commitment to providing a seamless funding experience,” said Jill Renwick, senior director of product at Clearco. “By automating the process, Boundless customers who come to Clearco can receive funding even faster.”
The two companies first teamed up in July, with Clearco offering businesses outside its core target direct access to the Boundless marketplace, and Boundless connecting eCommerce brands to Clearco to access funding within 24 hours.
In other working capital news, PYMNTS Intelligence recently published the latest edition of the Visa-commissioned Growth Corporates Working Capital Index, studying the working capital needs of companies that generate revenue of $50 million to $1 billion.
For these companies, PYMNTS wrote recently, working capital solutions aren’t just about day-to-day liquidity but are a strategic tool for driving business growth.
“The key is to be proactive,” Lauren Hewings, head of working capital solutioning at Visa, told PYMNTS CEO Karen Webster. “With the right strategies in place, middle-market corporates can leverage working capital not just to survive, but to thrive in a competitive global market.”
These businesses, that article added, face unique challenges, as they are in many cases too big for the financial products aimed at smaller businesses, though not large enough for solutions typically designed for multibillion-dollar companies.
“Best practices among top performers in this sector include integrating suppliers into enterprise resource planning (ERP) systems to streamline payments and optimize cash flow visibility,” PYMNTS wrote. “The index found that top performers pay 77% more of their invoices early, leading to stronger supplier relationships and potential discounts.”
Meanwhile, PYMNTS noted earlier this year that a number of eCommerce companies were themselves becoming working capital providers, with Home Depot exploring trade credit options, PayPal offering merchant finance products for small businesses, and Shopify launching Shopify Credit, a pay-in-full card for its merchants.
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