When startup FundX had a complex credit analysis challenge, they needed specific knowledge in credit risk analysis. Watch how KPMG Marketplace helped FundX with short-term staff.
Marketplace provides you with the right people, quickly at competitive rates. Whether you need assistance on a project, business analysis, or management reporting. See how we helped FundX.
David Jackson, CEO, FundX
FundX is an online invoice discounting platform for small businesses to connect their accounting software and borrow money based on their receivables.
KPMG and Marketplace helped FundX develop our sophisticated credit engine. It was a great experience. We basically went online into the Marketplace, put our proposal through, and had it accepted in 24 hours. Two weeks later we’d finished the project.
The idea for FundX came from my experience in other businesses that I’ve run, having cash flow issues and looking at ways to solve those cash flow issues, Realising that there’s a big asset tied up in receivables, I looked into having our invoices, our receivables, factored with traditional factoring companies and saw that it was a pretty archaic process. It was timing consuming, it wasn’t very transparent, and I thought “there must be a better way to do this”. Knowing that the accounting software was online, I did a bit of research, and the rest is history.
The biggest challenge in growing the business has been finding the right people to help me take the dream and my passion to where it needs to get to. Surrounding myself with the right people has been a challenge, but also rewarding when you get it right.
Yes, I would use KPMG Marketplace in the future – and in fact, we currently are using it for our second iteration of the credit model. I would highly recommend it. It’s been great for FundX.