Butn Limited ( (AU:BTN) ) has issued an announcement.
Butn Limited has entered into a joint venture with Jim’s Group to launch a ‘Franchise Funding’ product aimed at the Australasian franchise industry. This partnership will allow new franchisees of Jim’s Group to access upfront funding to purchase franchises, addressing a growing demand for such financial solutions. The joint venture combines Butn’s expertise in digital transactional funding with Jim’s Group’s extensive franchising experience, aiming to empower small business entrepreneurs by providing them with the necessary financial support to start and grow their businesses. The initiative is expected to launch in Q3 FY2025 in Australia, with plans for expansion into New Zealand, positioning the venture as a leading solution in the franchise funding market.
More about Butn Limited
Butn Limited is an Australian Business-to-Business (B2B) funder that innovates the way small and medium-sized enterprises (SMEs) fund and grow their businesses. The company focuses on transactional funding, helping SMEs overcome working capital constraints by financing individual transactions and leveraging the end debtor’s credit. Since its inception, Butn has funded approximately $2.5 billion to Australian businesses. Jim’s Group, founded by Jim Penman, is a large franchising family with over 5,500 franchisees across more than 50 divisions, including Jim’s Mowing and Jim’s Cleaning. It operates in Australia, New Zealand, Canada, and the United Kingdom, generating an annual turnover of approximately $1 billion.
YTD Price Performance: 50.0%
Average Trading Volume: 207,150
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$29.33M
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