LOS ANGELES, July 30, 2020 /PRNewswire/ -- Poynt, Inc., the world's leading open commerce platform, has chosen Fundomate, a leading provider for turnkey business funding solutions, as its partner to bring automated business funding to its US-based customers.
By utilizing Fundomate's white-label technology, APIs, and expertise in the alternative lending space, Poynt Capital provides merchants with pre-approved, affordable working capital offers based on their processing and business history. Merchants get access to industry-leading payment terms and rates, with no loan application required.
"Now more than ever, small businesses need a lifeline to cover expenses such as inventory, operating expenses, or marketing costs. With Poynt Capital, they have an easy way of accessing affordable working capital and repay at their own pace with a percentage of their daily sales," says Sam Schapiro, CEO and Founder of Fundomate.
"Both the Poynt and Fundomate teams have put in a tremendous amount of work to bring Poynt Capital to our customers," says Osama Bedier, CEO at Poynt, Inc. "We are beyond excited for the added value we can bring to Poynt merchants through our new funding program. Our easy approval process, one-click application, and next-day access to funds allow our customers to focus on what matters most: making their business thrive," he added.
Fundomate is an innovative fintech company that operates in the alternative lending space and provides white-labeled turnkey solutions enabling merchant facing companies to offer alternative funding products to their customers as a value-added proposition. Fundomate focuses on verticals like merchant services, POS companies & CRMs, with the goal of being the top provider for seamless working capital solutions.
Poynt is a connected commerce platform empowering merchants with the technology to transform their businesses. In 2013, the company recognized the lack of smart terminals in the market. It re-imagined the ubiquitous payment terminal into a connected, multi-purpose device that runs third-party apps. As smart terminals become mainstream, Poynt OS is an open operating system that can power any smart payment terminal worldwide, creating a new app economy for merchants and allowing developers to write once and distribute everywhere. Poynt is headquartered in Palo Alto, Calif., with international headquarters in Singapore, and is backed by Elavon, Google Ventures, Matrix Partners, National Australia Bank, NYCA Partners, Oak HC/FT Partners, Stanford-StartX Fund, and Webb Investment Network.