HoneyBook, jaris Team on Managing Client, Cash Flow

Private label and full stack embedded lending service jaris announced Tuesday (Jan. 18) that it has partnered with HoneyBook to launch HoneyBook Capital and better manage client flow and cash flow.

Entrepreneurship has been doing well in the past few years, with over 4 million business applications filed through Sept. 2021 — and the freelance economy will be over 50% of the total U.S. workforce by 2027, according to the release.

Chris Aristides, founder and CEO of jaris, called cash flow “a major challenge” for the freelance economy and said access to capital was crucial.

Jaris’ Credit-as-a-Service (CaaS) platform gives HoneyBook a way to leverage a complete infrastructure, offering financial services through the HoneyBook Capital name. That will also offer customers quick access to capital and an easy single fixed-fee repayment structure.

The release says jaris’ ability to underwrite based on the profile of a HoneyBook customer will help support the customers more accurately.

The jaris model is called “flexible” and touted as something that can be customized — which can also offer help to businesses hit hard by COVID-19 and disqualified by traditional lenders.

“We are thrilled to partner with jaris and bring our members access to the capital they need to manage and grow their businesses,” said Oz Alon, CEO of HoneyBook. “Early on, we saw the demand for financial products and services, and more specifically the ability to access capital faster and easier. HoneyBook Capital meets this need and deepens our mission to help independent businesses be successful.”

PYMNTS reported last fall that jaris also partnered with SpotOn to provide access to loan offers, having extended over $350 million to small business clients as of last October.

Read more: jaris, SpotOn Offer $350M in SMB Loans