Finofo provides financial technology solutions for businesses, focusing on automating accounts payable, collecting international revenues, and managing cash across multiple entities.

Finofo

My bank is great at payments and I love their tech — said no one ever. We all deserve better financial services, so we are building it - a single platform for businesses to access global banking, automate accounts payable and receivables, and manage their treasury functions.

There's a lot to build and we will need passionate people who also believe that we all deserve better. Come build with us!

Desjardins Group

SaaS Ventures

Sweetspot Capital

Motivate Venture Capital

Can Canadian businesses send real-time payments to suppliers in Europe? 

Europe has real-time payment rails like SEPA Instant, and others specific to countries, such as Faster Payments in the UK, SIC in Switzerland, and many more.

Swipe right to learn about SEPA Instant, how the real-time payment network works in Europe, and how Canadian businesses can leverage SEPA Instant to pay their suppliers. 👉

Have you ever spent time browsing multiple sites for bank address information while sending supplier payments? 🔍

It’s a common issue when suppliers provide bank routing numbers but miss out on the bank address information.

Finance teams in Canadian companies waste a lot of time searching multiple websites for bank addresses—this information is often not readily available and is scattered everywhere.

To make your life easier, we’ve built a comprehensive section on our website that acts as a single source for all bank address information in major countries.

If you just have your UK sort code, Australia BSB code, Canada's institution + transit number, or US routing number—we’ve got you covered. 

Just enter it and get all the information about banks—address, branch information, SWIFT/BIC codes, and more!

Check out our bank address lookup section - finofo(dot)com/tools/bank-address-lookup

We are growing our engineering team at Finofo and hiring for Back End and Front End engineering roles.

Here's why you should consider joining us on our journey:

1. Not your regular product maintenance gig. Finofo offers a multi-product platform for finance and accounting teams in mid-market businesses covering various needs such as AP, Global Receivables, Treasury, and Corporate Cards. From ledgers to integrations to complex onboarding flows - you'll be exposed to the whole variety of problems to solve. It's a lot of fun!

2. We are building the next stage of our platform that will focus on solving the pain points of understanding and managing financial risk that stems from currency fluctuations. These are hard financial engineering problems to solve, offering you the chance to do some of the most fulfilling work of your career.

3. If there is ever a stage of growth to join a startup, I would definitely say it's this stage when the product, business, and team risk is significantly reduced. You'll be joining at a great time to help us scale and build great products.

4. We pay top salaries and every employee gets to participate in our success with stock options. We are well funded, revenue generating and have significant top-tier VC investor interest to capitalize the company for our next phase of growth.

5. This position is onsite in our downtown Calgary office. We’re big believers in the serendipity and depth that come from in-person interactions. It's your chance to work closely with the founding team and gain deep industry insights.

6. We are serious about our work but we love to laugh, have fun, and build together.

Interested? If I’ve piqued your interest, don't just sit on it—apply this weekend. We review every submission and we act fast.

Know someone who would be a great fit? Share this post with them.

You’ll find the details for both positions on our LinkedIn page.

P.S. Please refrain from sending a boilerplate message as that in our books is worse than no message. If you want to make a point about being very interested in the position, build some assumptions of problems we might be running into and run with it to suggest how you have solved these in your past jobs. We love reading that!

Have you ever wondered how good is the "best currency exchange rate" offered by your bank, broker, or fintech?

It’s like a sealed black box, leaving businesses and individuals guessing. 

Banks and brokers love to keep their FX spreads or markups a secret, making it nearly impossible to know what you’re really paying for currency conversions.

We’re shining a light on this black box! 

Launching Finofo’s Markup Analysis tool that helps you find out how good is the currency exchange rate you get with your FX provider,  

Using this tool is super simple—just enter details on your last few currency conversions, and the tool calculates the goodness of your "best currency exchange rate".

Try out the tool and see the difference transparency makes - https://lnkd.in/gaamcAEt

No more guesswork – it's time to see exactly what you're paying!

If your business operates internationally, you know the struggle of dealing with global payments and currency conversions. You're either relying on banks, FX brokers, or fintechs for global money movement.

Firstly, how did FX brokers come into the picture? Back in the 80s, banks weren’t really helping companies with global money movement. 

Brokerage firms saw an opportunity and offered a simple value proposition: "I can handle your global payments and provide better exchange rates than banks."

This approach worked, the FX brokerage business took off, and they quickly opened offices in major cities across North America, starting to acquire business customers. They prospered on a direct sales and relationship model, which still holds today.

However, what worked in the 1980s is utterly failing businesses now. Companies have evolved, customers have embraced technology, and new players—fintech companies—have entered the market. 

Brokers clinging to outdated models or technology are falling behind, expecting businesses to endure their inefficiencies in a world that has moved on.

We've seen customers move away from brokers and come on board with Finofo, and they often share these common pain points:

- Brokers constantly changing exchange rates
- Frequent delays in global payments to suppliers
- Manual processes with ERPs due to brokers' lack of tech adoption
- A lack of transparency and accountability

Here's a quick look at what happens when brokers don't broker for your interest. Swipe right. 👉

New Canadian Fintech Newsletter out this morning 👀 

This week I write about:
- Financeit launching direct to consumer loans
- Propel Holdings' new credit facility
- Lots of card news from Neo Financial, Float, Airwallex & Finofo

Read it all in under 3 mins 👇

COM:FINOFO

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