Fundbox

Fundbox

Get paid for your outstanding invoices - NET-30 Killer

4.7/5 (66 reviews)

Fundbox Overview

WAITING FOR AN INVOICE TO GET PAID? WE CAN HELP.

Fundbox lets business owners and freelancers get paid instantly for their outstanding invoices.

IS FUNDBOX RIGHT FOR ME?
Our clients tend to be small / medium sized businesses, freelancers & sole proprietors. If your business provides a service or sells to another business and typically issues invoices in order to get paid, then Fundbox is exactly what your looking for. With Fundbox you don't have to wait for your clients to pay, you can free up your cash flow by getting a payment advance based on your outstanding invoices

GETTING STARTED IS SIMPLE
➊ Register in less than 30 seconds, no forms required.
➋ Fundbox connects to your bookkeeping application and pulls in all your outstanding invoices.
➌ Select one or more of your outstanding invoices to fund.
➍ Receive the funds into your bank account instantly.

MONEY IN THE BANK
The funds are sent as soon as you choose an invoice to clear and typically arrives at your bank account on the next business day. The advanced amount and a small clearing fee are paid back over twelve weekly installments. If at any point during the repayment period you decide to pay the balance, Fundbox will waive the clearing fee for the remaining period. You only pay for the time period you that you used the funds.

WORKS WITH...
Fundbox integrates with all major bookkeeping applications: Quickbooks, FreshBooks, Harvest & Xero.

CLIENT REVIEWS
"It took less than a few minutes to obtain short term funding." -- Edwin Warfield, CEO citybizlist.com

“Allowing the small business owner to manage cash flow at the push of a button, is genius!" -- Jan Haugo, QuickBooks ProAdvisor

"I can clear invoices and so it keeps the cash flow steady. Fundbox is one of the best things for small business I have seen." -- Don Hutchings, Owner JunkFX

Pricing

Starting from
N/A
Pricing options
Free Trial
Free
Value for money

Devices

Business size

S
M
L

Markets

United States

Supported Languages

English

Fundbox Reviews

Overall rating
4.7/5
94% positive reviews
52
Excellent
10
Very good
2
Average
0
Poor
2
Terrible
William ridge L.

Great tool for outstanding invoices, but not for long term.

Reviewed on 2015/02/18
Review Source: GetApp

Overall I believe it's a great idea and a good start, I can't imagine leaving a 5 star review because of a few things. Note: I have only used it a couple times but will list my pros and cons in the respective sections below.

Pros

-Easy sign up and integration with HarvestApp (what I use for invoicing among other things).
-Cash direct to bank.
-Option to pay out early and avoid future monthly fees. From what I've seen it's about 5-7% of the total invoice and the fee is split up and added on to each payment, so rarely you will need to pay the full fee unless you actually pay them back over a 3 month period but also having the option to pay out over quite a bit of time if you need those 3 months to pay off the invoice is nice and cheaper than a credit card and obviously a cash advance.

Overall, I'd recommend in hopes they will roll out future (very nice) review

Cons

-Overall, the website has a good design but is lacking a LOT of features - even finding the support/FAQ page was a little hard because it was hidden under my username (visible on click of my username). Also just a lot of open, unused, space. I can think of quite a few things off the top of my head that could take up some space and give users good insights (such as prfileinfo.
-Lack of history and records, total fees paid and total fees avoided, etc.
-Not as 'fast' as they lead you to believe, once you choose to clear an invoice it takes 3-4 business days to hit the bank- compared with Stripe, a built in CC processor in Harvest so clients can pay directly while viewing the invoice, this is a bit longer than usual. Stripe is usually 1 business day if paid before 4-5pm EST.
-Even once the invoice hits your bank, it takes a while if you to edit the payback settings (per invoice) so no matter what you will get a small fee (probably minute) if you chose clear a specific invoice
-If you clear an invoice and the customer pays next day, well you just lost a bit of money during that waiting period.

Adith K.

Issues caused due to outstanding invoices easily resolved using the Fundbox application

Used Daily for 6-12 months
Reviewed on 2018/07/05
Review Source: GetApp

Pros

It a very easy job to get done with the registration and get started with the application. The application is integrated and connected to the bank, so your payments are basically debited to your respective bank accounts. The interface is very straightforward and easy to use. The advance amount gets increased to the times you use the system. The customer support is very responsive and the support team takes it to resolve your issues in no time. Highly recommended for smaller firms where you find it difficult in dealing with the cash flows.

Cons

Some features are lacking in the system. It is quite time-consuming to find out the frequently asked question lists. Once an invoice is checked out to proceed, it takes nearly three working days to get it debited in your account. It is suited only for small firms, it is not recommended in the case of huge firms where bulk invoices need to be processed.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

7.0/10
Brian S.

WHERE HAS FUNDBOX BEEN ALL MY LIFE!!!?

Reviewed on 2014/09/23
Review Source: GetApp

Every small business owner is well aware of the bane of their existence: managing cashflow and playing the revenue game. Clients like to delay payment as long as possible, creditors/vendors want their money NOW. You could go to banks for a line of credit, but banks don't want to talk to you unless you're on your feet. Your only option is to hustle or drown in overdraft fees.

Along comes FundBox who offers advances on unpaid invoices listed my online Harvest account, without the cumbersome (and near-degrading) bank approval process. I have up to 12 weeks to pay off each advance, along with a small fee added each week. I received my first advance this morning via automatic ACH transfer. Likewise, payments are automatically debited from my bank account.

This will save my business.

Pros

Super clean interface, very easy to use. The first advance came immediately as promised (ACH transfer takes 2-3 business days). Signup was easier than expected. My advance limit is $2500, which will increase the more I use the system.

Cons

It may be premature to write this, but I wish the web interface had a screen listing all upcoming payments from my bank account for me to plan.

Chavous C.

Overall good. A little pricey

Reviewed on 2014/12/17
Review Source: GetApp

Overall, Fundbox is great. Their web interface is easy, it integrates with my accounting system, and the money is delivered quickly. Their payment terms are not terribly flexible, and their clearing rate is likely much higher than what you would get from a bank, but they are not really designed to replace a bank. They are here to provide quick liquidity from your invoices. If you pay them off early - for example, you expect a client to pay you within 30 days but need their money right now - it is very inexpensive. If you leave it for the full 12 weeks, it is only a few % less than what you would pay to a credit card company. But - it keeps it off your credit card. We like them. They fit our business. I recommend them highly, but go in with open eyes and be aware of the limitations/caveats.

Pros

Quick approval
No bank-style credit applications
Quick funding
Good web interface
"Flexible" repayment - ie you can pay early and avoid fees

Cons

High effective APR if the funding is taken to term (12 wks)
No flexibility in timeframe. Terms are 12 weeks, period. You can pay the entire amount early and avoid some of the clearing fee, but there is no other flexibility.

Paul G.

Outstanding!

Reviewed on 2015/03/06
Review Source: GetApp

I signed up with this service to relieve the pressure of not being able to pay contractors if a client paid late, and I didn't have the funds available. When I signed up, I accidentally entered the WIRE transfer routing number instead of the regular ACH routing number from my check. When I let the support team know, they monitored the transaction, and updated me daily. When it came through as failed, they immediately corrected the information, and resubmitted the deposit.

The best part is that they used my Harvest invoicing history as a "guarantor" of sorts. No hit to my beacon score as a credit inquiry!

Pros

INCREDIBLY easy to setup.
OUTSTANDING Customer Service.

Cons

A little notice that says "DO NOT USE YOUR WIRE TRANSFER ROUTING NUMBER" on the front-end for people who were moving too quickly like I was. ;)

I suppose you could say that paying a fee would be a con, but it's much less than most other services that offer the same thing. The option to make the payments with an account other than the one it was deposited in would be nice, but not absolutely necessary.

Fundbox Pricing

Starting from
N/A
Pricing options
Free Trial
Free
Value for money

Fundbox has no setup fees and no subscription fees, only a per-invoice clearing fee you pay when you choose to fund an invoice.

This fee is determined based on your business’ health and specific invoice properties. ​To give a better sense of specific pricing, the fee for clearing a $1000 invoice ranges from $52 to $72 over 3 months.

Pricing is also based on your Fundbox history, so the longer you use Fundbox and the more invoices you clear, the lower the clearing fee becomes.

Fundbox Features

  • API
  • Receiving

  • Accounting Integration
  • Accounting Management
  • Activity Dashboard
  • Automatic Notifications
  • Billing & Invoicing
  • Compliance Management
  • Customizable Reporting
  • Data Import/Export
  • Electronic Payments
  • Expense Tracking
  • Financial Analysis
  • Invoice Management
  • Invoice Processing
  • Multi-Currency
  • Real Time Data
  • Reporting & Statistics
  • Third Party Integration
  • Workflow Management

Additional information for Fundbox

Key features of Fundbox

  • 100% online. No forms to fill. No hassles
  • Clear invoices as low as $100
  • Clear your first outstanding invoice in less than 24 hours
  • Currently available for US based businesses
  • Fees decrease & credit limits increase with recurring usage
  • Fully online & automated funding and repayment process
  • Invoice dashboard to manage your funding
  • No early repayment fees.
  • No setup fees or subscription fees
  • Only pay for the time period you used the funds
  • Payments are transferred to your bank account in 24 hours
  • Seamless integration with all leading bookkeeping software
  • Select one or more invoices to clear and get paid instantly
  • Works with Quickbooks, Freshbooks, Xero & Harvest

Benefits

GET YOUR MONEY WHEN YOU NEED IT.
★ Easy to use. No forms to fill and no hassles.
★ Choose an invoice and receive an instant payment.
★ Grow your business.
★ Take control over your cash flow.
★ Get paid Net-Now, your clients can continue to pay Net 30, Net 60 etc...
★ Works with Quickbooks, Freshbooks, Xero & Harvest

Fundbox FAQs

Below are some frequently asked questions for Fundbox.

Q. What type of pricing plans does Fundbox offer?

Fundbox offers the following pricing plans:

Pricing model: Free

Free Trial: Not Available

Fundbox has no setup fees and no subscription fees, only a per-invoice clearing fee you pay when you choose to fund an invoice.

This fee is determined based on your business’ health and specific invoice properties. ​To give a better sense of specific pricing, the fee for clearing a $1000 invoice ranges from $52 to $72 over 3 months.

Pricing is also based on your Fundbox history, so the longer you use Fundbox and the more invoices you clear, the lower the clearing fee becomes.

Q. What are the main features of Fundbox?

Fundbox offers the following features:

  • 100% online. No forms to fill. No hassles
  • Clear invoices as low as $100
  • Clear your first outstanding invoice in less than 24 hours
  • Currently available for US based businesses
  • Fees decrease & credit limits increase with recurring usage
  • Fully online & automated funding and repayment process
  • Invoice dashboard to manage your funding
  • No early repayment fees.
  • No setup fees or subscription fees
  • Only pay for the time period you used the funds
  • Payments are transferred to your bank account in 24 hours
  • Seamless integration with all leading bookkeeping software
  • Select one or more invoices to clear and get paid instantly
  • Works with Quickbooks, Freshbooks, Xero & Harvest

Q. Who are the typical users of Fundbox?

Fundbox has the following typical customers:

Freelancers, Mid Size Business, Small Business

Q. What languages does Fundbox support?

Fundbox supports the following languages:

English

Q. What type of pricing plans does Fundbox offer?

Fundbox has the following pricing plans:

Free

Q. Does Fundbox support mobile devices?

We do not have any information about what devices Fundbox supports

Q. What other apps does Fundbox integrate with?

Fundbox integrates with the following applications:

Clio, FreshBooks, FreshBooks, Harvest, Harvest, Jobber, OroCommerce, QuickBooks, QuickBooks Online, Xero

Q. What level of support does Fundbox offer?

Fundbox offers the following support options:

FAQs, Knowledge Base, Online Support, Phone Support, Video Tutorials