Financial advisors can now submit a financing application for an entrepreneur to Fundr completely digitally via Fyndoo Advise. The advisor will know within fifteen minutes whether Fundr can provide the financing. That is the result of the API link between both parties.
Fundr is an innovative initiative of Rabobank, says Marcel Gerritsen, head of Strategy & Innovation Companies. “We disrupted the funding application process. As a result, entrepreneurs via Fundr know within fifteen minutes whether they can get financing and at what price. Moreover, Fundr is API-based, which means that third parties such as Fyndoo can easily integrate our Fundr products into their platform.'
Great added value
Fyndoo, part of Topicus, is the first platform that is integrated with Fundr via the API connection. 'The addition of Fundr to our platform has great added value for SME entrepreneurs', says Jamie Burink, Business Line Manager corporate finance at Topicus. Through this advisory platform, financial advisors can offer advisory services to entrepreneurs. 'Fundr breaks with the traditional form of financing applications, which are often sluggish because entrepreneurs have to provide diverse information. Fundr uses transaction data. This is easier and faster to unlock, so that an entrepreneur quickly knows whether he can get financing. For us, Fundr is the first party that can offer financing products in this innovative way and thus strengthen our platform.'
A few actions
Credit advisory organization Credion is also pleased with the addition of Fundr to Fyndoo Advise. Credion advisors have been selected by Fyndoo to be one of the first parties to test this functionality. Operations director Carlo van der Weg: 'The current link between Fundr and Fyndoo Advise makes the process more efficient. For our advisors and for entrepreneurs with financing needs. With a few actions, advisors know within fifteen minutes whether a financing application via Fundr will be successful and under what conditions. This is not the case with other providers.
In the ecosystem
Fundr fits in with Rabobank's Open Banking strategy, says Gerritsen. 'Entrepreneurs want to decide for themselves how, when and through which channel they apply for financing. Offering loans via other platforms, such as payment service providers or accounting packages, is also appropriate. We call this banking-as-a-service. As a result, we are present in the ecosystem of entrepreneurs and they receive a faster answer to their question whether they can invest. That's how we help entrepreneurs grow.'