The International FinTech company builder Finleap today announces the launch of BillFront Inc, a company that accelerates growth for app developers and publishers by providing faster and easier access to their revenues.
Advertising networks and app stores have payment terms that mean app developers can wait up to 70 days until they can get their hands on their revenues.
BillFront offers faster access to cash for developers by paying out the revenues they generate via advertising networks and app stores on a weekly basis. Whether developers are making money through paid apps, in game purchases or advertising, BillFront reduces their cash flow headaches and enables their business.
The use of apps and the number of app developers around the world is growing rapidly.
Gartner estimates that apps will generate over $50 billion in revenue during 2015, up from around $36 billion in 2014. In this growing market, the focus of app developers is turning increasingly towards advertising and driving app discovery. This requires access to cash.
Nasir Zubairi has co-founded the company together with FinLeap. Nasir is veteran in FinTech and was named one of "40 Innovators Shaping the Future of Financial Services"
by the Financial News/Wall Street Journal in 2014.
“App developers need to be smart about their money to ensure they can compete and scale effectively. BillFront provides faster access to revenues that can be re-invested in business growth at a lower cost than other sources of debt or equity capital. Using BillFront is the intelligent way to manage cash flow and to fuel an app developer’s business. We want to enable the app economy.”
BillFront is the second FinTech company launched by FinLeap since the company builder’s launch in December. Four other exciting companies are in various stages of development.
Hanno Fichtner, Partner of FinLeap and Co-Founder of Hitfox Group says, “There is a tremendous opportunity for FinLeap to drive change in Financial Services. BillFront is a great example of how we can re-think and digitise financial services to benefit businesses.”