If you ask any company CEO or CFO what their main challenges are beyond customer acquisition and scalability, their answers would be common. They would most likely mention cash flow issues and delays in payments. One company took it upon themselves to address these prevalent issues, with an entirely automated solution to optimize accounts receivables management across industries.
We spoke with serial enterpreneur Karl Abou Zeid (KAZ) , Founder and CEO of Fundbot, to explore the solutions the company offers to banks, financial institutions, fintechs, telecom companies and marketplaces. Fundbot has also introduced interesting features to support companies defer payments and benefit from flexible payment terms.
BDD: Why was Fundbot founded? What market need did you identify?
KAZ: When I set up my first venture, Sqwirl, it was recognized by Forbes as one of the fastest-growing startup in the MENA.
Sqwirl functioned as a trucking marketplace that linked truck drivers with prominent transportation companies. The platform had embedded lending services, guaranteeing swift payment to drivers on day 0, with reimbursement coming from the transportation companies upon maturity.
Recognizing that cash flow challenges and delayed payments were prevalent beyond the logistics industry, I went on to found Fundbot—an entirely automated solution aimed at optimizing the efficiency of accounts receivables financing across various industries.
BDD: Tell us a bit more about Fundbot’s services
KAZ: Sure, here is an overview of what we offer clients from different industries:
- Accounts receivables financing: Accounts receivables financing is a feature that allows businesses to leverage their outstanding invoices to secure immediate funding, improving cash flow.
- B2B Buy Now Pay Later: B2B Buy Now Pay Later enables businesses to make purchases and defer payments, providing flexibility in managing expenses.
- Loan to cards: Loan to cards involves transforming future receivables into instant limits on a virtually issued card, streamlining access to funds for microbusinesses and freelancers, usually in the digital sector.
- B2B payments and reconciliation: B2B payments and reconciliation streamline business-to-business transactions, ensuring seamless and transparent financial interactions.
- Dynamic discounting: Dynamic discounting offers flexible payment terms, allowing businesses to optimize cash flow by taking advantage of early payment discounts.
This collection of embedded solutions allows banks and financial institutions to offer a rich services offering, catering for their clients across the financial spectrum.
BDD: With four typical B2B target markets, how can each of them benefit from the services you offer?
KAZ: The MENA region is home to 19 million SMEs, three quarters of which are suffering from delayed payments, amounting to a regional cash flow gap of USD250 billion. Fundbot’s embedded supply-chain financing solution can support both large and small enterprises and contribute to sustained economic growth throughout the region, namely in KSA, UAE, Jordan and Oman.
BDD: Tell us a bit about your geographic structure.
KAZ: Our office in Nice is to conduct business activities across the European region.
Similarly, our office in the UAE is to carry business activities in the Gulf, simultaneously serving as our Research & Development entity.
The primary hub for our operational endeavors is our office in Lebanon, where a majority of our team is based.
BDD: We understand that you are driven to create more jobs in Lebanon. What differentiates Lebanese talent from others?
KAZ: Human capital in Lebanon is a valuable pillar in the Lebanese economy, acting as the driving force behind innovation, productivity, and economic development. The Lebanese workforce is highly educated and adaptable, able to navigate challenges and innovate. One of my personal ambitions is to contribute to the Lebanese economy by creating jobs and exporting world-class technology from Lebanon to the world.
Learn more about Fundbot and their solutions.
