TL;DR: ScotPac is one of Australia’s largest working capital providers, offering invoice finance, asset finance, and trade finance. Fundtap is a focused, on-demand invoice finance platform built for SMEs. ScotPac suits larger businesses needing multi-product facilities; Fundtap suits smaller businesses wanting simplicity and flexibility.
How ScotPac Works
ScotPac (formerly Scottish Pacific) offers a range of business finance products including invoice discounting, factoring, asset finance, and trade finance. Their invoice finance facilities typically involve whole-ledger assignment, minimum monthly volumes, and longer-term contracts. ScotPac serves businesses across a wide range of sizes, including mid-market and larger enterprises.
How Fundtap Works
Fundtap is purpose-built for small and medium businesses. You connect your accounting software, choose individual invoices, and receive funds within hours. There are no minimum volumes, no whole-ledger requirement, and no lock-in contracts. The fee is a single transparent rate from 4% per invoice.
Key Differences
| Feature | ScotPac | Fundtap |
|---|---|---|
| Business type | Traditional lender (multiple products) | On-demand invoice finance platform |
| Target market | SME to mid-market and above | Small and medium businesses |
| Invoice selection | Typically whole-ledger | Choose individual invoices |
| Minimum volumes | Often required | No minimums |
| Lock-in contract | Typically yes | No lock-in |
| Setup process | Weeks (detailed credit assessment) | Same day |
| Accounting integration | Limited | Xero, MYOB, QuickBooks |
| Markets | Australia, New Zealand | Australia, New Zealand |
| Other products | Asset finance, trade finance, equipment | Invoice finance only |
Which Is Right for Your Business?
If you need a multi-product finance facility, high-volume invoice discounting, or asset finance alongside working capital, ScotPac may be a good fit. If you want simple, flexible, on-demand invoice finance with no lock-ins and fast setup, Fundtap is designed specifically for that.
ScotPac is a large working capital provider offering invoice discounting, factoring, asset finance, and trade finance. Fundtap focuses exclusively on on-demand invoice finance for SMEs with no minimums, no lock-ins, and same-day setup.
ScotPac’s multi-product offering and whole-ledger facilities are typically designed for businesses with higher turnover. Fundtap is built for SMEs that want to fund individual invoices on demand without committing to a full facility.
If your current ScotPac contract permits, you can start using Fundtap immediately — there is no lock-in from Fundtap’s side. Check your existing contract terms regarding exit provisions.
No. Fundtap focuses exclusively on invoice finance. If you need asset finance or trade finance alongside invoice finance, a multi-product provider like ScotPac may be more suitable.