![]() No fintech solution makes it easy for entrepreneurs to manage their finances all in one place, making it more difficult to focus on growing their business.” “Right now, entrepreneurs are forced to stitch together different fintech products, racking up fees along the way. It's typically an expensive and tedious process that intimidates entrepreneurs and business owners,” said ZenBusiness’ Burdhof. However, the true value that ZenBusiness brings to our users is the elimination of the back office paperwork in connecting all of these commodities to the legal entity. “It's true that payments, invoicing, and accounting tools are all commodities these days. The company provides a well-rounded suite of services that helps businesses get started, taking care of necessary legal and organizational hassles, and then as the business grows, the platform’s step-by-step guide and embedded fintech capabilities enable the enterprise to stay on the trajectory. ZenBusiness’ real value appears to be for young entrepreneurs, for businesses just getting on their feet. Its partnership with LendingClub discounts fees at the bank. ZenBusiness helps users open a business bank account at LendingClub Bank. ![]() The goal is to release credit products along with invoice financing in the near future,” Ross Buhrdorf, founder and CEO of ZenBusiness told Tearsheet. This method allows us to underwrite in real-time and charge less. “We wanted to take a measured approach and build a platform around the user experience that would provide us with deep insight into their business first. And while companies like Square offer business loans to their clients, ZenBusiness, on that front, is lacking. Besides them, there are also more niche companies, like Honeybook and Lili, that cater to freelancers and small businesses. Payment and business solutions for small businesses is a competitive market as well, with players like Square, Xero, and Intuit holding a considerable share of the market. However, while Joust’s payment mechanism was integrated into ZenBusiness’ offerings, a key element that was left out was its invoice financing service, which it plans to eventually relaunch. ZenBusiness Money’s tax filing service enables businesses to automatically track and tag income and expenses, helping to maximize deductions and reimbursements when filing taxes. Customers can receive payments via credit card and bank transfers, which are directly deposited in their bank accounts. With ZenBusiness Money, businesses can create custom invoices, set their own payment schedules, process and track payments, send invoice reminders, and review transaction history. While not the newest idea, it extends the ways in which the company’s existing clients can receive payments. With that, the firm brought all of Joust’s business banking features under their wing, launching it under its money-management and invoicing application, ZenBusiness Money. In 2020, ZenBusiness completed the acquisition of Joust, a fintech for small businesses and entrepreneurs. ![]() It tries to be a one-stop guided platform. The company, an Austin-based Public Benefit Corporation, has products to serve entrepreneurs through their journey of launching, running, and growing their businesses. ![]() ZenBusiness is working to accelerate small businesses to the next level with its payments and banking offerings.
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