Butn Limited (ASX: BTN; Butn) is pleased to announce a strategic partnership with Australia’s largest freight marketplace Freightlancer, expanding its position in the freight marketplace and management sector.
Freightlancer is a subsidiary of the world’s largest freelancing and crowdsourcing marketplace by number of users and jobs posted, Freelancer (ASX: FLN; OTCQX: FLNCF). Freightlancer simplifies the supply chain for freight owners and transport companies through its global freight marketplace and app, making the transporting of loads simple and transparent.
Under the agreement, Butn will provide Freightlancer with a customised solution (Butn Terms) which combines features across the Butn product range. The automated end-to-end business transaction funding solution provides Freightlancer customers with a range of payment terms, assisting in their cashflow needs.
Rollout is expected in 1H 2022, commencing with the Australian market. The agreement is for an initial term of two years.
Butn expects revenue from this partnership to be material over time, due to the size of the market opportunity and the extensive Freightlancer customer base.
Co-founder and Co-CEO of Butn, Rael Ross said: “This partnership with Freightlancer cements our position as a leading SME cashflow solutions provider in the freight sector. It’s another example of Butn’s competitive advantage, embedding into partner platforms, providing end business users with the cashflow they need in seconds. It allows Butn to leverage Freightlancer’s leading market position to deliver a powerful cashflow solution to their customers at this time of increased demand.”
Freelancer CEO Matt Barrie added: “With the ongoing COVID-19 pandemic elevating supply chain issues and freight deliveries, the demands on freight owners and operators have increased significantly. By integrating Butn’s platform into our leading marketplace and app, we are simplifying the way owners and operators can manage the demands of invoicing, providing them with an easy-to-use solution that offers terms against invoices on job completion.”