Butn (ASX:BTN) shares are on investors’ radar. Here’s why

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Butn (ASX:BTN) shares are on investors’ radar. Here’s why

Butn’s shares
Image source: © Khunaspix | Megapixl.com

Highlights

  • Butn has entered into a strategic partnership with Freelancer’s subsidiary company – Freightlancer.
  • Butn would provide Freightlancer with a custom-made solution as per the latter’s needs.
  • The roll-out is anticipated to happen in the first quarter if 2022.

Australian diversified financials firm, Butn Limited (ASX:BTN) shared today that it has entered into a strategic partnership with Freelancer’s (ASX:FLN) subsidiary company - Freightlancer.

Despite entering into an agreement with the world’s largest crowdfunding and freelancing company’s subsidiary, the shares of BTN closed a tad lower at AU$0.315 per share today.

About Freightlancer

Freightlancer is a leading freight marketplace provider in Australia. The company is engaged in simplifying the supply chain for transport companies and freight owners by making the transportation of loads transparent and simple.

Strategic partnership

Under the agreement, Butn will offer customised solutions to Freightlancer. Moreover, Butn offers a range of payment terms assistance in cash flow to Freightlancer customers.

The rollout is expected with the Australian market in the first half of 2022. The agreement is for an initial term of two years.

Considering the Freightlancer customer base and size of the market opportunity, Butn expects that revenue to be material over time.

Rael Ross, Co-CEO and Co-founder of Butn, said that strategic partnership with Freightlancer reestablishes the company’s position as SME cashflow solutions provider.

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