Powered by Stripe, Jobox Financial Account enables Home Services Pros to send, receive and store funds, all within the Jobox platform
MIAMI, June 30, 2022 /PRNewswire/ -- Jobox.ai, a software company that provides home service marketplaces with an AI-based infrastructure to directly connect their customers with skilled trades professionals ("pros"), announced today it has partnered with Stripe to offer pros business financial accounts. With this feature, Jobox pros will be able to manage spending for their small business on the Jobox app, making it easier for them to keep track of expenses, predict future spending and budget for materials as necessary.
Jobox is transforming the home service industry by providing pros with an all-in-one workplace through its app, which will soon integrate money management with Stripe-powered financial accounts. According to Stripe research, nearly half (46%) of businesses report that their banking experience has hindered their growth. Jobox is eliminating that pain point for home service pros as they manage their small businesses by providing them with a financial account, through which they can receive micro loans, make withdrawals at ATMs, and have no monthly fees or minimum balance requirements.
"As we scale at Jobox, providing pros with everything they need to succeed remains our North Star. This partnership with Stripe reflects another step we're taking to lift the home services industry out of its antiquated ways, propel the industry forward with technology and offer pros all of the resources they need to thrive in today's labor market," said Jobox CEO Shay Bloch. "On average, we see about $16M sitting in digital Jobox wallets at any given time, reflecting that pros prefer to manage their finances within our app instead of transferring funds to a traditional bank account. Through our integration with Stripe, we're taking our in-app financial features to the next level with micro loans, payment integration with vendors and other financial services. By having an official money management account allocated to work specifically, pros will be able to manage their small businesses efficiently and track spending on all job-related expenses in one place."
"We're proud to power Jobox Financial Account and play a role in propelling the home service industry forward by ensuring pros can focus on the work they do best, rather than spending hours on manual financial management," said Denise Ho, Head of Product for BaaS at Stripe.
The partnership follows a successful integration with Stripe in which Jobox scaled to processing $35M in monthly transactions. Jobox powers business for more than 6,000 pros in 39 states across the U.S., and has processed more than $1B of transactions on its platform. Jobox matches a pro to a customer job every three minutes, making it easy for pros and home service marketplaces alike to grow their business.
Home service pros can learn more about Jobox and pre-register for the Stripe-powered Jobox Financial Account at https://www.jobox.ai/.
Jobox connects companies with thousands of vetted home service professionals. We use proprietary algorithms and millions of data points to match end customers with the local pro they need in less than 60 seconds. Jobox also helps companies form a deeper and broader connection with their customers. We enable companies to follow a service transaction all the way to execution. We made reporting, reconciliation, and payments fully automated and transparent, and built the infrastructure, APIs and onboarding flows to help design a smooth customer journey. Jobox takes the overhead of the home service marketplace to let companies focus on customer relationships. Companies get valuable insights into their customers' preferences and the pros they work with, which they can leverage to lead more holistic purchasing journeys.