Butn extends MYOB invoice financing agreement to 2027
Key points
- Butn signs a contract extension with MYOB Australia through Nov. 15, 2027.
- The announcement left Butn's share price unchanged at $0.01.
- The deal maintains embedded invoice financing access for small and medium businesses.
Financial technology firm Butn (ASX:BTN) has signed an agreement with MYOB Australia to extend its existing invoice finance contract until Nov. 15, 2027.
The original agreement between the two entities was established on June 1, 2024, and was scheduled to expire prior to this extension.
"Access to transparent, fixed-cost finance is vital for SMEs to fully participate in Australia’s rapidly changing economic landscape,” said Butn CEO Rael Ross.
Alongside the contract extension, the company stated that it is currently negotiating with Northleaf Capital Partners to amend its finance facility while assessing non-binding offers for whole or parts of the business.
Following the announcement, the Butn share price was unchanged at $0.01.
Butn operates as an Australian business-to-business fintech providing transactional funding solutions such as invoice factoring and supply chain finance.
The company integrates its funding software directly into third-party software platforms to allow small businesses to manage cash flow within existing workflows.
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