rapid finance We partnered with Galileo Financial Technologies About small business financing solutions.
This partnership resulted in Rapid Finance's Rapid Access Mastercard program. This program is managed by Galileo and sponsored by Galileo's parent company. SoFi technologythe companies said in a press release emailed to PYMNTS on Tuesday (April 16).
Rapid Access Mastercard is a prepaid commercial card program that allows Rapid Finance's small and medium-sized business (SMB) customers with a good line of credit (LOC) to seamlessly and instantly access funds, according to a release.
“This card program underscores Rapid Finance’s commitment to empowering businesses with flexible and accessible financial solutions.” Will Tammartisaid Rapid Finance's CEO in a release. “With the Rapid Access Mastercard, small business owners can better capture market opportunities, manage cash flow, and support business growth in a more convenient way.”
According to the release, small businesses have full control over how much they withdraw from their LOC, allowing them to access funds only when needed, manage their finances efficiently, and minimize unnecessary expenses. Masu.
According to the release, the Rapid Access Card allows SMBs to instantly access funds anytime, anywhere, even outside of traditional banking hours.
According to the release, the collaboration that created this solution will combine Rapid Finance's small business banking platform with Galileo's platform that enables FinTechs, financial institutions, and brands to build differentiated financial solutions.
“This collaboration underscores Galileo’s commitment to helping small and medium-sized businesses access more capital, faster.” derek whitesaid Galileo's CEO in a release. “We are excited to work with SoFi Bank to help Rapid Finance quickly develop and scale this flexible payment program to give SMBs quick and easy access to the funds they need to succeed. I’m looking forward to it.”
PYMNTS Intelligence found that companies are looking at many potential solutions to solve their problems. Cash flow.
These include real-time payments, digitized working capital programs, and an all-in-one platform that is a centralized digital system that incorporates accounts receivable (AR) and accounts payable (AP) into a single interface. ”Improve working capital with B2B spend management”, a collaboration between PYMNTS Intelligence and Galileo.
