Finance Breaking news Aussie startup unveils open banking-powered corporate credit card last financial news
Breaking-Finance.Com - Australian working capital startup Cape is preparing to launch a corporate credit card powered by Open Banking technology early next year.
Breaking-Finance.Com - Australian working capital startup Cape is preparing to launch a corporate credit card powered by Open Banking technology early next year. Founded by a team of UK fintech veterans with experience at Funding Circle, Funding Options and 11:FS, Cape is coming out of stealth as it prepares to launch into a tough economy for small businesses hit by the Covid-19 pandemic.Arriving in February, the card will incorporate three features designed to allow digital businesses to better manage their cash flow, whilst accessing finance to invest into growth. It will use insights gained from live data sources, courtesy of open banking and accounting, that will unlock access to credit much faster and more cost-effectively through these three key features: Live credit file management; Buy now, pay later; and revenue-based finance repayments.
. "Accessing working capital in the early stages to fund growth is essential but without the right support, many of our SME’s will fail over the coming months and years. Their ambition, energy & creativity extinguished, along with reduced consumer choice and countless jobs. "That is why we have designed our solution to help small businesses in the digital community have access to much-needed resources when they need it - not when their bank says they can."
Source = Breaking-Finance.ComFinancial breaking news