Payroll, benefits and HR management solutions company Gusto and B2B credit and financing expert Nav are partnering this week.
Under the agreement, Gusto’s small business clients will have access to Nav’s financial health insights as well as its network of financing options.
Originally founded as ZenPayroll in 2012, Gusto has raised a total of $746 million.
Payroll, benefits, and HR management solutions company Gusto has selected B2B credit and financing expert Nav to help its small business customers build business credit and access Nav’s network of financing options.
With 300,000 customers, Gusto processes payroll and provides HR services such as employee benefits, health insurance, and 401(k) plans. Following today’s announcement, those businesses will also benefit from Nav’s personalized financial health insights that offer visibility into cash flow, credit insights, and suggested financing options. Additionally, Gusto’s business clients will have access to Nav’s network of 160 different financing options, which include loans, credit cards, and banking.
Gusto anticipates the funding services will help small businesses overcome obstacles such as finding available funding, improving cash flow stability, and managing their expenses.
“At Gusto, our mission is to help small and mid-sized businesses take care of their teams, while accelerating their growth. But these businesses can’t grow without having a full picture of their finances and the funding options available to them,” said Gusto Head of Partnerships Sonya Jamula. “That’s why we’re excited to join forces with Nav to bring them a broader range of options for funding and financial services – and to help more small and mid-sized businesses succeed.”
Nav was founded in 2012. Together with its network of financial providers, the Utah-based company helps its 350,000+ small business customers improve borrowing power and access working capital.
“Nav’s platform makes the path to funding less opaque and limits exposure to painful rejections and predatory lending. Small businesses need to have a transparent view into what options are available to them,” said Nav VP of Revenue Walt Levengood. “Our partnership with Gusto helps small businesses to have more control of their capital and to better manage their costs.”
Headquartered in San Francisco, Gusto has raised a total of $746 million since it was founded in 2012 as ZenPayroll. Co-founder Joshua Reeves is CEO.
Photo by Yan Krukau
