SKU-level data expert and SME credit provider help Canadian businesses track spending and manage finances
TORONTO, August 05, 2021--(BUSINESS WIRE)--Sensibill, the leading provider of everyday financial tools and SKU-level insights, and CAARY, a new credit and financial platform for small and medium-sized enterprises (SMEs), today announced their partnership. Together, the companies will offer a seamless, end-to-end financial services solution for SMEs that includes credit, payment solutions, receipt capture, expense management and automated reconciliation.
"We were looking for a strong partner with a progressive approach to round out our platform," said John MacKinlay, CEO of CAARY. "With Sensibill, our customers have access to a leading digital receipt management solution as well as deep, contextual insights to proactively identify their financial needs and spending habits. This provides huge opportunities for SMEs to save money and optimize spend."
CAARY, which launches this fall, is targeting the more than 800,000 Canadian SMEs that still don’t have access to business credit. Later this year, the fintech will build out its financial platform with enhanced features, including Sensibill’s Spend Manager.
Sensibill leverages AI and machine learning technology combined with SKU-level insights to provide best-in-class receipt capture capabilities, offering proactive and personalized financial advice, such as identifying potential savings opportunities. Along with finally having access to business credit, these features can significantly enhance the overall financial health of an SME.
Corey Gross, Co-founder and CEO of Sensibill, added, "CAARY is dedicated to filling the financial gaps for small and medium-sized businesses, which aligns closely with our mission of making financial wellness attainable for all. Together, we’re eliminating the hassle associated with traditional receipt tracking, digitizing the process and incorporating new levels of convenience, speed, and accuracy into expense management. Plus, we’re providing deep SKU-level insights that enable personalized experiences, a key competitive differentiator in today’s crowded financial services landscape."
About CAARY Capital Ltd.
CAARY is a progressive financial platform for small and medium-sized enterprises (SMEs). We are passionate about enabling the recovering and thriving SME sector in Canada. Leveraging the trusted Mastercard network, we provide business credit, financial products and services, tailored to SMEs.
Built for entrepreneurs by entrepreneurs, CAARY credit comes with no card fees and no Foreign Exchange Fees. SMEs receive 1.5% cash back on all spend, have the opportunity to issue unlimited virtual cards, set employee spend limits, and easily reconcile with simple receipt capture, accounting and sync. More importantly, the 1.2 million SMEs in Canada can now build business credit, without offering a personal guarantee, and finally get their hands on the financial tools they need to grow their business. For more information, visit caary.com.
Sensibill provides everyday financial tools and makes SKU-level data actionable, equipping financial institutions with personalized insights to help their customers build healthier financial habits. The AI-powered solution enables end-users to easily track their spending and manage their finances while unlocking unprecedented insights for the institution. Sensibill has rolled out its technology to over 60 million users across North America and the U.K. Visit getsensibill.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005086/en/