Online Marketplace for Debt Collection Wins Seed Funding

computerCollbox cofounders Cameron Desautels and Matthew Darner say it’s really worse than it looks. Of that, about 81% is more than 30 days past due — and of that astronomical figure, only $200 billion is ever sent off to a collections agency.

“The average small business has less than a month of financial runway,” says Desautels, CEO and cofounder of CollBox. Not collecting accounts receivable, as they’re known in the accounting world, can mean the difference between survival or failure for a small business.

Click here for rest of article...