Grants and Contributions:

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Title:

B2B Payments

Agreement Number:

967733

Agreement Value:

$290,662.17

Agreement Date:

Jul 1, 2021 - Mar 31, 2024

Description:

The firm aims to develop Software As A Service (SAAS) platform that will allow small businesses a lightweight and standardized onboarding process to gain access to a network of large enterprises that they often do work for and need to collect payment from. This innovation will provide access to these large companies with fewer steps, fewer approvals, and shorter wait times to collect payment. The firm’s solution will also provide the small business owners more control over their payment terms including preferred payment methods, and payment schedules. They will be able to set rules on when they need to get paid, and what method they need to get paid so that they can gain access to the funds quickly and easily reconcile their accounting.

Organization:

National Research Council Canada

Expected Results:

The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization

Location:

Toronto, Ontario, CA M6P 3T1

Reference Number:

172-2021-2022-Q1-967733

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

826064529

Recipient Type:

For-profit organization

Additional Information:

This agreement has been amended 1 time(s). The total amended value is -459,337.83 dollars.

Amendment Date

Dec 2, 2022

Recipient's Operating Name:

FreshBooks

Recipient's Legal Name:

2ndSite Inc.

Federal Riding Name:

Davenport

Federal Riding Number:

35018

Program:

Industrial Research Assistance Program – Contributions to Firms

Program Purpose:

Coverage:

IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation.

NAICS Code:

519130

Amendments:

See Amendments