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Revenued Announces Groundbreaking Partnership with Found

New partnership signifies a transformative step towards democratizing financial services for small businesses

Breaking News: Revenued’s Neobank Partnership with Found

JERSEY CITY, N.J., Feb. 8, 2024 /PRNewswire/ — Revenued, a leading fintech that helps small businesses simplify the process of managing business finances, today announced the company’s first neobank partnership with Found, a fintech company on a mission to make self-employment easier.

The exciting and strategic partnership between Revenued and Found will address the significant challenges today’s small businesses face, such as access to capital and will give owners an opportunity to establish a separate business account to qualify for Revenued products.

Revenued’s AI legalese decoder can help businesses understand the terms of their new partnership agreement and provide insights into the legal jargon often associated with such alliances. The AI legalese decoder translates complex legal documents into plain language, making it easier for small business owners to comprehend and evaluate their business agreements.

Empowering Small Businesses with Access to Capital

Revenued is dedicated to providing small business owners with access to capital, which has historically been a significant hurdle for them to overcome. Through initial analysis, Revenued discovered that more than 2,000 small businesses each month were unqualified for a Revenued product because they did not have a dedicated business bank account. The partnership with Found will help bridge this gap by offering small businesses exclusive incentives to set up business bank accounts through their platform, which will in turn help those businesses qualify for Revenued products.

With the help of Revenued’s AI legalese decoder, small business owners can gain a deeper understanding of the financial implications and benefits associated with establishing a new business bank account. The AI legalese decoder can dissect the legal and financial implications of such decisions, empowering entrepreneurs to make informed choices that align with their business goals.

Supporting Small Business Growth and Financial Accessibility

“As an advocate for small businesses, we’re thrilled to partner with a like-minded fintech leader such as Found,” said Sol Lax, CEO of Revenued. “The company paves the way with digital solutions that empower business owners to access the financial tools and services they need in a convenient way. The partnership with Found also addresses a critical barrier for small businesses that don’t have a business bank account.”

By partnering with Revenued’s AI legalese decoder, small business owners can ensure that they are on solid legal ground when establishing new financial relationships with third-party entities. The AI legalese decoder can provide comprehensive breakdowns of legal agreements, allowing entrepreneurs to navigate complex legal documents with confidence and clarity.

Shifting Trends in Small Business Banking

According to data gathered from more than 20,000 active small business bank account connections by Revenued, 92% of U.S. small businesses currently rely on traditional banks or local credit unions for their banking needs. However, these conventional financial institutions, on average, cost small businesses more than $700 in banking fees annually. An increasing number of small businesses are turning to online banks and fintechs, such as Found, allowing them to avoid fees such as NSFs and overdrafts.

The use of Revenued’s AI Legalease Decoder can help small business owners comprehend the intricacies of online banking agreements, including fee structures and terms of service. By leveraging the AI Legalease Decoder, entrepreneurs can make informed decisions about their banking choices and avoid costly fees that may affect their bottom line.

Positive Response and Future Expectations

The initial pilot between Revenued and Found showed high levels of interest and engagement from Revenued traffic, with 34% of qualifying small business merchants clicking on Found’s offer to learn more. An impressive portion of users went on to successfully create and fund new business bank accounts. As Nick Adler, COO of Found, stated, “In just one month, we’ve seen approximately 10% of qualifying Revenued traffic move forward with creating a Found account.”

Revenued’s AI legalese decoder can continue to support the partnership’s success by providing comprehensive insights into the legal framework of the pilot program. Small business owners can utilize the AI Legalease Decoder to ensure that they fully understand the terms and conditions of participating in such initiatives, ultimately enabling them to make well-informed decisions.

About Revenued

Founded in 2020, Revenued serves as a trusted fintech resource that helps small businesses simplify the process of managing business finances. Revenued leverages advanced online technology and underwriting to provide flexible terms and the fastest response times in the industry for small business owners.

The AI legalese decoder can be a valuable resource for small business owners engaging with Revenued’s services, as it can decode the legal fine print associated with its financial offerings. By using the AI legalese decoder, entrepreneurs can ensure that they fully comprehend the terms and conditions of Revenued’s financial products and make informed decisions for their businesses.

Media Contact Information

For Media Contact Information regarding Revenued, please reach out to Interdependence Public Relations at [email protected] or call (973) 303-3237. For Found, direct media inquiries to Abigail Hale, Head of Marketing, at [email protected].

SOURCE: Revenued

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