- 17 December 2021 16:08
Butn substantially expands its addressable customer base with OZEDI partnership
Butn Limited (ASX: BTN) has signed a partnership and distribution agreement with one of Australia’s leading business messaging providers, OZEDI.
The deal significantly increases the addressable customer base for Butn, which provides a suite of products centred on transactional funding which provides funding to SME by financing individual transactions, leveraging the end debtor’s credit.
Melbourne-based OZEDI is one of Australia’s largest digital delivery providers across superannuation, payroll and eInvoicing to business and government. It provides software to a range of customers, enabling them to safely and securely send critical data from superannuation to payroll and eInvoicing. It currently services more than 150 software platforms. These platforms in turn support an end-user customer base of over 50,000 that includes more than half of all businesses in Australia that employ more than 20 people.
Under the agreement, OZEDI will distribute the full Butn funding product solution across its customer base, including a strong pipeline of new clients being onboarded in CY 2022. OZEDI will also provide account management and support to its integration partners and their technical teams.
OZEDI clients will integrate the Butn solution within their payments and invoicing systems, allowing their end-user businesses access to cashflow solutions at the click of a Butn. The agreement covers Australia and New Zealand for an initial two-year term, with options for extension.
The first joint integrations are expected in 1H 2022, with plans to onboard both current and new clients on an ongoing basis.Butn expects revenue from this partnership to be material over time, due to the size of the market opportunity and the extensive OZEDI business end-user base.
Co-founder and Co-CEO of Butn, Rael Ross said, “The OZEDI partnership is a great example of the advantage we have in our ability to fully integrate into partner platforms – thereby providing a seamless experience for users. It allows Butn to leverage the high levels of integrity, security and reliability that OZEDI has established with its customers in order to deliver a powerful cashflow solution technology to OZEDI’s clients. By integrating the Butn solution within their payments and invoicing systems, their end users will have quick access to cashflow which is critical at this time of increased growth off the back of COVID-19.”
OZEDI CEO Christian Walkerden, said, “With the critical nature of cashflow issues being elevated during the pandemic, combined with the need to find elegant digital solutions, the time has well and truly come for cashflow solutions and services to be made available to businesses directly from within their native software.
“After making the strategic judgement that this service was increasingly essential, OZEDI spent more than 12 months of due diligence and careful assessment to confirm that Butn represents the cutting edge and are the clear market leader for this technology.”