The partnership will allow customers on the Cortex Network to request funding on approved invoices from their Cortex account. Customers will then receive payment within 24 hours with FundThrough.
“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.”
“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.”