Fundbox, a San Francisco, California-based FinTech, as per recent reports, has entered into a partnership agreement with Synchrony, a Stamford, Connecticut-based consumer financial services provider, on providing B2B credit availability for Synchrony’s merchant clientele.
The San Francisco-based Fundbox has built the first artificial intelligence (AI)-enabled business capital platform, specially crafted for scaled acceleration of the B2B commerce. With Fundbox’s assistance, Synchrony merchants can now access the Fundbox service via Synchrony’s Business Centre and quickly and easily apply for B2B credits up to $100,000, which can be arranged as soon as the next working day.
Speaking on this context, Eyal Shinar, founder and CEO of Fundbox, says: “With the increased availability of business data, advances in machine learning and the growth of APIs to make integration easier, Fundbox is bringing credit risk analysis and on-demand access to capital directly (to) the point of the B2B transaction.”
Synchrony was on a lookout for a solution to empower merchants with an “in-workflow” access to a credit service, that’s seamless and quick. Additionally, Synchrony is renowned across many B2C industries, for its customized consumer financing program offering, the Stamford, Connecticut-based consumer financial services provider has generated $140 billion in sales revenue.