ZipBooks’ free iPhone app increases small business access to short-term capital. Fintech startup challenges the subscription-based business model for accounting software.
Lehi, UT, April 25, 2016 — ZipBooks today announced the availability of the first ever accounting iPhone app with on-the-go invoice financing for small businesses. Compatible with any iPhone running iOS 9, ZipBooks’ free (not freemium) iPhone app has the functionality small business owners expect from a paid option. In addition to sending invoices, users can use the “Get Paid Now” button to send a cash advance to their bank account.
“There are so many great businesses out there–especially growing businesses–that are profitable on paper, but struggle to keep their heads above water because payment terms leave them waiting 30 to 90 days to get paid,” said Tim Chaves, ZipBooks’ founder and CEO. “That’s why we built ZipBooks. With a single tap on an iPhone, ZipBooks users can smooth out cash flow and get back to running their business.”
ZipBooks charges .5% per week of the advanced amount and automatically schedules repayment over a 12-week period with no penalty for early repayment. Businesses don’t have to pay a monthly subscription because ZipBooks generates revenue through invoice financing and credit card processing, both optional.
ZipBooks is the first accounting program to send and finance an invoice in a single click. ZipBooks provides bookkeeping, invoicing, time tracking, and credit card processing to small business owners without a paid monthly subscription. ZipBooks is on a mission to get business owners better access to short-term capital and lower the overall cost of running a business. ZipBooks has offices in Lehi, Utah. For more information visit https://zipbooks.com.
Brad Hanks is in charge of Growth at ZipBooks.