Jobber to use Stripe to offer funding, instant payments
Home-service providers using Jobber software to manage their businesses now have access to Stripe Capital to obtain funds.
Jobber is also using Stripe and Visa Direct to provide customers with access to instant payouts to receive funds they have earned.
"Cash flow is critical for small businesses as they respond to changing circumstances," Sam Pillar, CEO and co-founder of Jobber, said in a Tuesday press release. "This could mean investing in equipment to take on a new type of work, or plugging a receivables gap to meet payroll."
Jobber first partnered with Stripe three years ago in turning to the e-commerce payments processor to power the Jobber Payments service. Since then, Jobber has integrated a range of Stripe products to help service providers manage their growing businesses: Stripe Connect powers payouts for businesses, unified funds management and reporting; Stripe Terminal makes it possible for service providers to accept card payments on-site; and Stripe Radar protects Jobber’s customers from fraud.
"We're excited to extend our partnership with Stripe and Visa to offer our customers capital and real-time access to funds so they can take on more jobs and better operate their businesses," Pillar added.
Eligible businesses can access Stripe Capital directly in the Jobber dashboard, and repay the financing with a fixed percentage of daily sales. Jobber views Stripe Capital as an especially valuable option for seasonal businesses like lawn-care providers whose revenues vary throughout the year.
The instant payouts feature allows users to move payments from customers into the service provider bank account in a matter of seconds, including on weekends and holidays. Generally, a small business has to wait two business days for funds from an online payment to reach the bank account, Jobber stated in the release.
"Jobber and Stripe 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," Jeanne DeWitt Grosser, head of Americas, revenue and growth at Stripe, said in the release.
To date, businesses using Jobber have serviced more than 10 million people, delivering more than $6 billion annually in services to their clients.