Dozr, an online heavy equipment rental business, has partnered with Flexbase to offer a rent-now, pay-later option.
Using Flexbase Pay at Dozr checkout allows contractors to rent equipment from just one single credit account, minimizing the hassle of multiple accounts while providing much-needed leeway, the company says. The rent-now pay-later functionality provided by Flexbase Pay allows contractors to rent equipment through Dozr with 60 days of interest-free credit.
"With our background in the industry, the Dozr team understands that cash flow is a challenge faced by contractors every day,” said Dozr CEO and co-founder Kevin Forestell. “At Dozr we are obsessed with providing the best rental experience possible. As a customer-obsessed company we're delighted to be the first to partner with Flexbase to empower contractors across the country."
"Managing credit and customer payment collections has long been a thorn in the side of equipment rental companies and other online B2B marketplaces," says Flexbase CEO Zaid Rahman. "With a simple Flexbase Pay integration, companies like Dozr can quickly offer their contractors a greater freedom in payment options, giving them quick approval for much-needed credit. Partnering with a rapidly growing brand like Dozr was a no-brainer.”
Most merchants are not in the business of managing credit and customer payment collections. However, businesses buying from them often seek 60-day payment terms.
Flexbase, a finance app for businesses, recently unveiled the solution for B2B businesses across various industries in the form of a buy-now, pay-later functionality. Flexbase Pay provides merchants an opportunity to increase their revenues while granting businesses greater freedom in payment options, including 60 days of interest-free credit on major purchases such as heavy equipment.
“Merchants can get funds immediately while businesses get net-60 days of interest-free credit for payments,” Rahman said. “This ultimately helps merchants sell more products while giving businesses much needed flexibility on their cash flow."
The concept of buy-now pay-later exploded in popularity during the pandemic as more consumers shifted to online shopping. While it has been widely available to consumers, businesses have a different and more complicated underwriting process that Flexbase handles through this offering, providing a consumer-like experience of receiving financing in less than 5 minutes.
"We enable B2B merchants to experience all the benefits of BNPL, including increasing their revenues significantly and increasing business customer loyalty, while taking the task of underwriting and credit collections off their plates," Rahman said.
Merchants using Flexbase Pay simply provide a "Pay in 60 days with Flexbase" button in their checkout pages to enable the function. Those interested in learning more and potentially teaming up with Flexbase to offer Flexbase Pay can find more information at flexbase.app/merchant.
