CALGARY, ALBERTA – May 04, 2017 - Cortex Business Solutions Inc. (TSXV: CBX), the leading network-as-a-service e-invoicing solutions provider, is pleased to announce its newest partnership with FundThrough, a Toronto, ON, based provider of online funding service offers for small business.
“Cortex sought out this partnership as a means of solving a key issue facing customers who are ready to capitalize on the industry’s turnaround and simply needed a way to get their invoices paid, ensuring they have the funds they need to grow their business” said Elena Dumitrascu, VP, Strategic Partnerships for Cortex. “The service FundThrough provides is a natural extension of our core e-invoicing solutions, as it helps speed up the time to pay on invoices, through a platform our customers know, trust and use every day.”
Through this unique partnership, customers on the Cortex Network will be able to request funding on approved invoices directly from their Cortex Workbench account. Customers will be able to fund only the invoices they want to, and receive payment within 24 hours with FundThrough. This immediate access to funds ensures Suppliers on the Network are in control of the payment process like never before, and have the ability to grow their funding limit at a rate that matches their company’s needs.
“Access to funds is critical for both new and small businesses to be able to grow. The oil and gas sector, especially, is finally seeing a period of recovery and regrowth. With FundThrough’s invoice funding platform these businesses can access their working capital immediately from unpaid invoices. Companies can pay the bills and make the purchases they need to run their business” said Deepak Ramachandran, Co-Founder & CTO of FundThrough. “This partnership with Cortex is a natural fit, and one that we are extremely excited to be a part of as it will give more than 9,000 companies currently using the Cortex Network access to funds they need to grow.”
FundThrough is a technology-driven online lending platform that provides small businesses with quick, convenient and transparent financing. FundThrough has developed a simple and secure platform that offers qualified businesses the ability to unlock their accounts receivables to invest in and accelerate the growth of their business. Today, FundThrough funds millions in invoices each month for hundreds of SMEs. Key investors include ScaleUP Ventures and Real Ventures.
Find out more at https://fundthrough.com.
About Cortex Business Solutions
Cortex Business Solutions Inc. (TSXV: CBX) is a business-to-business network that enables electronic invoicing for buying and supplying organizations. The Cortex network offers flexible connection methods to reduce the time required to process invoices and tools that leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses.
Investor Relations Contacts:
|Joel Leetzow||Sandra Fawcett (formerly Weiler)||Andrew Stewart|
|President and CEO||CFO||Director, Marketing & Investor Relations|