How FinTech Is Making Your Best Day Even Better

 

Creating and growing a startup takes money. Yes, there is always the chance that you will gain initial funding from venture capitalists or angel investors, but what do you do when the startup is up and running and you suddenly find yourself short of funds (you technically have)?

For example: you closed a deal to provide financial services for a local company. The terms have been agreed upon and the invoice has been sent–but you have to wait 30 days to access those funds. As a new startup, you don’t have a set base of funds to tide you over until payment goes through, nor do you have the clout to easily obtain funds from larger financial institutions — and you need to pay rent. What do you do?

FinTech saw this hazard as an amazing opportunity and set out to find solutions. Thanks to the brilliant new technology bred into FinTech, startups can now offer services to help other startups survive that uncertain early period when the company has no solid financial base to draw upon.

Fundthrough is a great example of a startup that saw the potential in this area and sought out a solution. Using their no-cost platform, business owners open an account and use the apps to upload their invoices–all from the comfort of their office or home. Clients are then able to fund these invoices quickly (payment arrives within 24 hours) and use that money to keep the business running. The stress and hostility that can come from inaccessible funds and outstanding bills is avoided and everyone walks away happy.

The business world needs the innovations that come from startups in order to survive the ever-changing needs of a society becoming more dependant on technology. Luckily, FinTech is up to the task and FinTech startups are bringing us into a much better future.