Contractor-software company Jobber is expanding its partnership with payments platform Stripe to include flexible financing and instant payouts to North American clients, the companies said Tuesday (Aug. 4).
"Cash flow is critical for small businesses as they respond to changing circumstances — [it] could mean investing in equipment to take on a new type of work, or plugging a receivables gap to meet payroll,” Jobber CEO and Co-Founder Sam Pillar said in a statement. “We're excited to extend our partnership with Stripe to offer our customers capital and real-time access to funds so they can take on more jobs and better operate their businesses.”
Jeanne DeWitt Grosser, head of Americas, revenue and growth at Stripe, said that the two companies “share a passion for entrepreneurship, so we're thrilled to build technology together to alleviate the cash flow challenges that often come with running a small business today.”
Jobber provides software for skilled tradespeople to manage their businesses, which have collectively served more than 10 million customers. Under the terms of Tuesday’s deal, the company will add instant-payout capabilities for contractors using Stripe and Visa Direct’s systems. Funds that contractors’ customers pay online will reach providers’ bank accounts in seconds, including on non-business days.
Gaurav Gollerkeri, head of Visa Direct North America, said that small- to medium-sized businesses (SMBs) “are the backbone of the North American economy, with approximately 30 million small businesses accounting for nearly half of the U.S employment. Visa is committed to supporting North American entrepreneurs through best-in-class solutions that help manage day-to-day business and plan for long-term growth. In working with Stripe and Jobber, we are embedding Visa Direct’s secure, convenient and real-time capabilities to help make cash flow challenges for SMBs a thing of the past.”
Jobber is also adding technology to make it simpler for home services businesses to get loans through Stripe Capital. Firms that meet the requirements can access the money via the Jobber dashboard and pay back the financing with a fixed portion of their daily sales.
Stripe and Jobber have collaborated since 2017, when Stripe supplied Jobber’s payments engine. Jobber has since brought on an array of additional Stripe offerings to its platform. Those include Stripe Terminal for taking card payments on-site, Stripe Radar for protection from fraud and Stripe Connect for payouts for companies, reporting and unified funds management.