Toronto (December 5, 2019) – FundThrough, North America’s leading automated, tech-enabled invoice factoring company, is a power player in the fintech working capital space for small and medium-sized businesses (SMBs). It has teamed up with Enverus (formerly DrillingInfo), a leading oil and gas SaaS supply chain data analytics company, to jointly provide fast and simple working capital solutions to businesses in the energy sector, an industry with complex procurement and approval cycles that often result in payment delays.
This collaboration enables users of Austin, Texas-based Enverus’ OpenInvoice and Workbench invoicing platforms across the United States and Canada to get paid for their invoices in as little as 24 hours, thereby eliminating long wait times.
FundThrough’s CEO and Co-Founder, Steven Uster, said he is proud to offer his company’s support to customers throughout the oil and gas industry.
“Our mission is to re-imagine the invoicing process so that businesses can get paid instantly. Enverus understands that operating in the energy sector can be a very capital-intensive process. We’re excited to work with them to ease the cash flow pain of suppliers to this large, critical industry,” he said.
FundThrough, headquartered in Toronto, is North America’s tech-enabled leader in factoring. The company offers a modernized form of factoring using the latest technology and a simple onboarding process. This helps vendors and contractors maintain cash flow regardless of the speed at which customers pay.
It’s a service of growing importance to companies of all sizes in the oil and gas industry. Despite the booming economies of the United States and Canada, many SMBs cope with delayed customer payments.
FundThrough customers get immediate access to their receivables within a day. This gives them control over cash flow and working capital, keeping companies growing regardless of customer payment practices.
Chris Dinkler, Senior Vice President and General Manager of Business Automation at Enverus, says the collaboration is valuable to industry growth because it removes obstacles to financing for businesses.
“We’re delighted to work with FundThrough to provide our customers with instant access to the funds locked up in their invoices so they can operate and continue to grow,” he said. “By integrating FundThrough’s platform directly with OpenInvoice, our existing invoicing software, securing financing has never been easier for suppliers in the oil and gas industry.”
For more information about FundThrough, please visit http://www.fundthrough.com.
For more information about Enverus, please visit https://www.enverus.com/.
FundThrough offers businesses flexible, on-demand working capital using their outstanding invoices to overcome cash flow gaps and accelerate their growth. The invoice factoring platform empowers small, new, and growing businesses in the U.S. and Canada by providing payment on outstanding invoices in as little as 24 hours. For more information, visit http://www.fundthrough.com.
Enverus is a leading data, software, and insights company focused on the energy sector. Through its SaaS platform, Enverus provides innovative technologies and predictive/prescriptive analytics, empowering customers to navigate the future. Enverus’ solutions deliver value across upstream, midstream and downstream sectors, enabling the industry to be more collaborative, efficient and competitive. With more than 1,000 employees across the globe, the Company’s solutions are sold to more than 5,000 customers across 50 countries. Enverus is a portfolio company of Genstar Capital and brings together the technology of Drillinginfo, PLS, 1Derrick, MineralSoft, Midland Map Co., MarketView, DataGenic Group, PRT, Oildex, Cortex, Red Dog Systems and RigData as one company. Creating the future of energy together. Learn more at https://www.enverus.com.