FundTap vs ScotPac: when each is the better fit
ScotPac is an established commercial finance provider across Australia and New Zealand, offering invoice finance, asset finance, and trade finance facilities. FundTap is on-demand invoice finance for Australian and New Zealand small businesses. Here is a straightforward comparison so you can decide what suits your situation.
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At a glance
| Feature | FundTap | ScotPac |
|---|---|---|
| What it is | On-demand invoice finance | Invoice finance and asset-based lending |
| Cost | Per-invoice fee from 4% (no setup fees, no monthly subscription fees, no early-repayment fees) | Facility-based pricing, typically structured per agreement |
| Repayment | Automatic when your customer pays the original invoice | Facility-based with structured drawdowns and repayments |
| Entry criteria | Connect Xero, MYOB, QuickBooks or Reckon and pick a single eligible invoice , no fixed trading-history or revenue threshold for new accounts (subject to standard credit assessment of you and the debtor) | Typically larger turnover thresholds and minimum facility sizes |
| Effect on balance sheet | No new debt added to the balance sheet , you are accessing money you have already earned | Facility-based, depends on structure |
| Speed | Typically funded same business day, once your accounting software is connected | Onboarding takes longer than online providers due to facility setup |
| Markets | Australia and New Zealand | Australia and New Zealand |
| Ongoing commitment | No monthly subscription fees, no minimum draw volume | Facility fees may apply (confirm current terms with ScotPac) |
When FundTap is likely the better fit
- Your invoicing volumes sit below ScotPac's minimum facility size, but you still need to unlock cash from invoices.
- You want to fund individual invoices on demand with no facility commitment and no contract.
- You want fast online onboarding through your accounting software rather than a facility setup.
- Your needs are short-term or sporadic and you only want to pay when you fund an invoice.
When ScotPac is likely the better fit
- You are an established business with consistent monthly invoicing volumes that fit ScotPac's facility structure.
- You want a relationship-led commercial finance partner with broader products such as asset finance or trade finance.
- You prefer a facility-based approach with negotiated terms.
Note: ScotPac is also a FundTap referral partner. The two products serve different segments and the right choice depends on your situation.
Switching to FundTap takes four steps
- Connect your accounting software (Xero, MYOB, QuickBooks or Reckon). Takes about five minutes.
- Pick an unpaid invoice you would like to fund.
- See the exact fee for that invoice before you commit to anything.
- Receive funds, typically the same business day.
Common questions
Does my business need to invoice other businesses to use FundTap?
FundTap funds invoices owed by other organisations, including businesses, government departments, and councils. The most common use is invoicing other businesses, but business-to-government and similar arrangements work too. Cash-only or business-to-consumer arrangements do not fit the product because there is no invoice to fund against.
How is FundTap different from a business loan?
FundTap is not a loan. There is no new debt added to your balance sheet, no fixed repayment schedule, and no lock-in. You are accessing money you have already earned through an unpaid invoice. The invoice is repaid automatically when your customer pays, so you are never paying for funding you are not using.
What if my cashflow needs are short-term or sporadic?
That is exactly when FundTap works best. There are no monthly subscription fees, no minimum draw volume, and no contract. Fund one invoice, a few, or none. There is no penalty for not using the product.
How quickly can I get funded?
Once your accounting software is connected and your account is verified, eligible invoices are typically funded the same business day. Cut-off times and processing windows apply.
Competitor information is based on publicly available data at time of writing and may change. This page is for general information only and is not financial advice. Outcomes depend on circumstances, invoice profile, and approval. Confirm current terms directly with each provider.