Peter Rex, founder and Executive Chairman of Rex, announced that PayUp, a Rex company, has partnered with Austin-based nFusion Capital. PayUp is a technologized early payment solution for small and medium-sized businesses ensuring convenient and affordable access to capital. nFusion Capital is a private working capital finance company delivering customized financing solutions to small and medium-sized businesses.

“Labor and materials prices are expected to continue to rise due to inflation and shortages, and 87% of vendors don’t qualify for traditional lending,”

“PayUp is building technology to manage the arbitrage in credit worthiness between these vendors and customers. A line of credit from a partner like nFusion Capital is only going to help PayUp meet that rising demand,”

                                                             Peter Rex, founder and Executive Chairman of Rex.

In order to speed up payments, PayUp collaborates with companies and their clients, offering a fully integrated experience that melds into current invoicing workflows, offers instant verification, and offers early, predictable payouts.

“We are excited to partner with PayUp and provide the capital they need to continue to grow their market,”

“In a world where many companies hide behind jargon and fake tech, PayUp is the real deal. It is fin-tech that has developed a truly one-of-kind platform built with technology that solves a real-world problem and we look forward to their continued success,”

                                                                               Jason Lippman, CEO of nFusion Capital.

“This line of credit will allow PayUp to factor $50M+ in invoices & achieve a multi-million dollar ARR,”

“As we partner with high credit quality customers, we expect to raise larger debt facilities at lower costs of capital, thereby generating margin expansion for our current investors,”

                                                                     Denver Lobo, co-founder and CEO of PayUp.

PayUp has handled tens of thousands of invoices totaling well over $1.5M in payments since its May 2022 start. PayUp will concentrate on speeding client base growth and employing key individuals over the next 6 to 12 months.