Business-to-business transactional funder, Butn Limited (ASX:BTN) has announced two new partnerships in the commercial real estate space, strengthening its position and expertise in small business lending for the sector.
Butn has entered into a first to market partnership with Australia’s leading real estate Customer Relationship Management software solution (CRM) Agentbox, providing real estate agents across the country with early access to their commissions.
The integration utilising Butn Now, which is now live, will enable agents in over 2,000 real estate offices nationwide to access their full commissions upfront less a small fixed fee, rather than waiting up to 90 days.
John McGrath, Founder of McGrath and customer of Agentbox said, “Agents today are often building their own larger teams, and like many small businesses, cash flow is the major issue. The ability to bring commissions forward will support them in growing their own endeavours and ultimately deliver better outcomes for their clients.”
Butn has also announced a strategic partnership with Ready Media Group Pty Ltd, one of Australia’s leading client-centric property media businesses. Butn has integrated its ButnPay product within Ready Media’s platform to create Ready-Pay, a Buy Now Pay Later (BNPL) solution.
With Ready-Pay, vendors of commercial property can now fund the cost of their sales marketing campaign, shifting that payment towards the transaction’s settlement. The Ready-Pay product will be rolled out to Ready Media users, which comprise an average of over 60,000 monthly website users and over 2,000 active agency clients.
Nick Materia, Founder & CEO of Ready Media Group, said, “Ready Media in essence is a business that solves old problems with modern solutions and we see that parallel with Butn’s business model, which is what consolidated our partnership. Their fast finance technology is hugely complimentary to our existing services suite and we envision Ready-Pay becoming a mainstay of vendor paid marketing. What excites us most about Ready-Pay is the way it enables vendors to access premium marketing channels to run modern, high impact property campaigns by eliminating the issue of prohibitive up-front costs.”
When commenting on the partnerships, Rael Ross, Co-Founder and Co-CEO of Butn, said, “Access to finance is one of the biggest challenges facing Australian businesses. Part of our modern society is speed, accessibility and ease of use, and at Butn we believe finance should be the same. These partnerships signify our expertise in the real estate industry and what’s needed to support the sector, particularly in a post COVID recovery and we’re excited about our future with Agentbox and Ready Media.”