Xero announces integration with business finance apps for small businesses
Cloud-based accounting software company Xero has announced its integration with three business finance apps.
The company has teamed up with the business finance providers to help small businesses to have better access to the finance that they need in order to grow.
The integration will not only help small businesses to have quicker access to capital, make smarter decisions and improve their cash flow, but will also benefit accountants and bookkeepers, enabling them to provide new services for their clients.
Xero will be integrating with online invoice finance platform MarketInvoice, business finance provider iwoca and online lender DueCourse, bringing the company’s number of app integrations to more than 500.
MarketInvoice, which is backed by the British Business Bank, has provided over £1.1 billion of funding to small businesses. The company’s partnership with Xero will help to increase its network of small and medium-sized businesses that are in need of access to finance.
DueCourse provides small businesses with a service that enables them to receive quick payments when they send an invoice, whilst iwoca provides flexible working capital, allowing small businesses to quickly have access to business loans of up to £100,000.
Commenting on Xero’s latest integration with the business finance apps, Xero Managing Director UK, Gary Turner, stated that “the philosophy is simple; better accounting data leads to better decisions and easier access to capital needed by so many small businesses.”
MarketInvoice Chief Executive, Anil Stocker, said that the partnership is another step in the company’s journey in using technology to make funding easier for businesses.