Introduction¶
Kanmon is the easiest way to offer financing and other value-add financial services to your business customers through your software platform.
The Story of Rohit and Bloom Bay¶
Rohit has been using Flourish Software to manage and grow his business. He owns and operates Bloom Bay, a flower shop located in the FIDI district in San Francisco. From managing vendors and inventory, recording customer preferences, taking orders and payments, and coordinating significant events, Flourish is the central hub for his day-to-day operations.
Ever since Bloom Bay re-opened post-COVID-19, it has seen tremendous demand growth. Rohit would like to buy a second refrigerator, pay down the deposit for a larger store and hire an assistant. Unfortunately, it has been difficult for business owners like Rohit to get any financing help from the banks and other lenders. As a result, he has to take the drastic step of maxing out his credit cards to cope with the post COVID re-opening. Flourish understands Rohit's predicament and wants to help. With Kanmon, Flourish can provide personalized financing offers to customers like Rohit via a simple API integration within two weeks.
How Kanmon Helps¶
Kanmon is the easiest solution to help software platforms build and provide value-add financing products to their business customers.
Kanmon is designed to be deeply integrated within your product user experience. We offer two different methods of integration:
- Kanmon API - offers the most flexibility and options for customization. This option requires some engineering and product resources to integrate and launch.
- Kanmon Connect - a set of plug-n-play widgets that can be easily embedded into your existing applications. Kanmon Connect is entirely customizable and will match the style of your application's UX. This option requires minimal engineering resources to integrate and launch.
We recommend that most customers leverage Kanmon Connect to build their own branded financing products. We offer a Quick Start guide that can help you navigate through the program setup and integration.
What Kanmon Enables¶
Kanmon provides the following product value propositions to the platform.
- Frictionless onboarding - Our embedded experience and API integration with the platform enables frictionless onboarding for the customer. We don't ask the customer to fill in information that already exists on the platform.
- Embedded and omnichannel offer flow - Kanmon supports an omnichannel experience. Kanmon enables in-app messaging as well as email and SMS channels. The customer's entire financing transaction from onboarding to offer to funds disbursement occurs within your application. Your brand is front and center.
- Fair interest rates - We enable comprehensive underwriting and offer bank-level term loans to your customers. Our loans are reasonably priced compared to Merchant Cash Advance (MCA) products that are north of 100% APR.
- Complete financial picture - Our data platform gathers financial data about your customers from a wide variety of data sources. As a result, we provide a complete financial picture of your customer rather than the limited view from payments data on your platform.
- One integration - One integration with Kanmon can enable multiple financial products for your customers. We currently offer Term Loans and will shortly broaden our financial offerings to offer Net Terms and Factoring products.
A Magical Experience for Your Customers¶
In a world with Kanmon, Rohit logged into Flourish, saw a notification inviting him to enroll in a financing program right there in the Flourish app. He followed the simple onboarding process, confirmed his business details, connected his bank account, and provided consent. In three simple clicks, he was enrolled!
Within a few hours, Rohit received a few loan offers via the in-app experience in the Flourish platform. He felt comfortable with a $150,000 pre-approved term loan offer. He accepted and signed the loan documents right in the app. His funds automatically arrived the next day right on time for him to pay the down payment for a bigger store. Flourish saved the day, and Rohit is a delighted and committed Flourish customer.
Rohit's story is not unique; tens of thousands of software and marketplace companies like yours are helping business owners to grow and manage their businesses. Use Kanmon to make this a reality for your customers. Contact us today!