Bookipi, an Australian financial technology company, is all set to launch a new invoice payments platform in partnership with another Australia-based fintech Fat Zebra. The all new invoice payments platform will be called ‘BookiPay’. Through this partnership, Bookipi will be using the payment infrastructure of Fat Zebra to back its BookiPay to handle the late invoice payment issues that are killing small businesses in Australia.
More on the Fat Zebra-Bookipi partnership
Tim Lee, Bookipi CEO commented on the partnership saying that they’re looking forward to working with Fat Zebra in order to launch the new invoice payments platform ‘BookiPay’. Small businesses in Australian rely on their invoices for getting paid, also getting paid on time, to run their businesses. The BookiPay invoice payments software by BookiPi will get its users paid on time, if not faster, by making it simpler for recipients to pay their invoices as well as for business owners in order to track their payments.
Bookipi offers a suite of cutting-edge business products designed and developed for small businesses and freelancers. The company recently raised about $1.6 million in a seed investment round in October last year.
According to the Australian Government’s Payment Times Inquiry, half of the Australian businesses that participated reported that more than 40% of invoices are paid late. Another report by Prushka report, almost half of the participating small and medium businesses reported that they always needed to ask their clients more than twice to get their invoices paid.
Fat Zebra: an Australian fintech
Fat Zebra is an internationally renowned scalable fintech payments platform that focuses on providing its partners with access to the local market via a single and comprehensive global payments network. The fintech was founded in 2012 by Pred Dragila. Headquartered in Sydney, Fat Zebra is essentially an Internet Payment Gateway founded to simplify digital credit card payments. The company has raised about $8.8 million in funding till date.
Pred Dragila, who is also the Chief Executive Officer of Fat Zebra, said at Fat Zebra, they provide their partners with a groundbreaking and scalable global payment solution through which they can access multiple local markets via the one payment network.
Commenting on the partnership, Fat Zebra is proud to be joining hands with Australian fintech Bookipi to help SMEs eliminate barriers that slow down their cash flow. The company wants to provide its customers with a perfect solution that offers them speed to market as well as grow their local and international presence, he adds.
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