In Founder Focus we introduce entrepreneurs and change-makers working on innovative startups, social enterprises and SME’s around Aotearoa New Zealand.
At a glance
Founder: Matt Peacey
Can you tell us a bit about your business?
FundTap is reinventing finance for small businesses. Typically, to get finance as a small business can be quite hard. Because you haven’t been running for a long time, and you’re still trying to hustle your way to success.
With our AI algorithm, and simple to use platform – we allow businesses to connect up their accounting software, and get their unpaid invoices paid on demand. There’s no long term contracts, or hidden fees – we believe in supporting small businesses and making it easy.
Our core vision is to unlock a billion dollars worth of growth for small businesses – no easy feat but a challenge that helps keep us focused.
We’ve taken invoice financing, and rebuilt it for the digital era – which makes it accessible for the smaller businesses.
The core benefits to using our platform are:
- It’s fast: Go from invoice to cash in hours.
- Growth: FundTap isn’t just about cash flow; it’s your growth accelerator, freeing up funds to seize opportunities without tying you down with monthly debts or repayments.
- Prepare for the future: Say goodbye to sleepless nights over cashflow issues – with FundTap, you can plan ahead and tackle financial challenges before they even appear.
- Private: Your financial moves stay your business – your clients won’t even know we’re here, it’s like having a silent financial partner.
- Pay as you go: Think of FundTap as a pay-as-you-go solution – you only shell out when you need your invoice funded, no hidden costs, no strings attached.
What’s the backstory for your business idea?
I’m a scientist by trade, but I saw many great ideas go nowhere because there was no business model in behind it to bring this to the world.
I was keen to own my own business. The opportunity came up to offer invoice finance across the top of the South Island. While a great way to learn the trade, there was some real frustration that the systems and tools didn’t work for small businesses. These were the customers who you could see were screaming out for an easy cash flow solution, but there was nothing in the market that worked for them. I reimagined invoice finance with the time-poor small business owner firmly in mind, taking advantage of the new technology shifts to offer a simple solution for small businesses.
What programmes, learning or mentoring, or resources have been of assistance so far?
There have been a huge number of people who have helped in so many different ways. A few random recommendations:
Focus on advice and help for your stage of growth from people who have been there and done it. If you try do everything you should do, you’ll get overwhelmed and not focus on what you need to do now to grow.
Become an independent director of other companies. You learn fast – nothing matches the ability to compare and contrast the good and bad with your own business. It’s also a chance to rub shoulders with some very clever people with large networks.
NZTE has been a huge help, providing the support and access to training and experts to grow to the next stage.
Make sure to grow yourself along with your business so you are ready to step up to the next level as your business grows. My favourite podcasts for this are: