Assessment
Butn lets a business pick individual invoices to fund, so it does not have to hand its whole list of customer invoices (its debtor book) to a lender. It suits an owner whose cash is tied up in unpaid invoices to other businesses and who wants a same-day advance through Butn’s own portal or through a partner such as MYOB, the Australian accounting software company. The fee for each advance is shown before the business confirms the request.
For the year ended 30 June 2026, Butn reported revenue of A$15.3 million and originations of A$528 million. Funding that came through partner platforms rose 45% and made up about half of group revenue. The statutory loss after tax was A$3.8 million, with bad-debt expense of A$3.5 million, more than double the prior year.
Butn fits an Australian SME that invoices other businesses holding an Australian Business Number (ABN) and wants to fund invoices one at a time, including through its accountant or its software. It is a weaker fit for a firm that needs a large confidential debtor-finance facility (an ongoing credit line secured on all its invoices), funding for money owed by consumers, or funding for invoices that are past due.
Rating by criterion
Each of the eight criteria below is scored out of 100.
Sector criteria
Butn's main product is one-off invoice finance (Butn X), plus related products for supplier payment terms (Butn Pay), commission advances (Butn Now), and longer business loans (Butn Plus). Funding is limited to invoices issued to other businesses with an active ABN. Approval depends on the invoices being owed by businesses and still within their payment terms.
Registration can take minutes when documents are ready, and Butn aims to pay requests received by 4pm Melbourne time on a business day the same day, through the New Payments Platform (NPP), Australia's real-time payment system. More customers now arrive through partner platforms, which is where most FY26 growth came from. A business that uses MYOB can start a funding request from its invoices screen once a Butn account is linked.
Extension fees accrue at 0.1% per day on overdue balances when a funded invoice is not repaid on the scheduled date. Bad-debt expense more than doubled in FY26. When a customer pays late, Butn can discuss a repayment plan, but the business still owes Butn the money.
Butn markets itself as easy for platforms to build in, and invoice funding is live inside MYOB. Many SMEs first come across Butn through a partner or their accountant.
Vendor criteria
In FY26 Butn focused more on its embedded platform, sold a non-core panel business, resized a syndicated funding facility to A$77 million drawn, and launched the Moneybox Retail Credit Fund for eligible investors. Butn offers more than plain invoice factoring, but most SMEs use it for invoice advances.
Butn says registration can take about five minutes when IDs and banking details are ready, with human review possible within about an hour in business hours. Support is reachable by phone on 1300 99 BUTN and by email. First-time borrowers also go through director ID checks and accept the End User Agreement.
Butn charges a one-off establishment fee plus a flat percentage based on the number of days between funding and the invoice due date. Those percentages are shown before a transaction is confirmed. MYOB publishes the clearest public fee schedule, for funding through MYOB (see Pricing). Other channels may show a quote inside the portal after assessment.
A business does not have to fund every invoice. Butn takes repayment by direct debit on the scheduled date for the chosen fee bracket. A business can repay early or get a short extension by giving Butn notice. Excess fees may apply when a single invoice or total outstanding balance exceeds A$75,000.
Against its peers
These are the other companies in lending and credit infrastructure, with their ratings.
Fact file
| Exchange | ASX: BTN |
|---|---|
| FY26 revenue | A$15.3 million (year ended 30 June 2026) |
| FY26 originations | A$528 million |
| FY26 statutory loss | A$3.8 million after tax |
| Funding model | Transactional invoice and related SME funding; embedded platform share rising |
| Geography | Australia |
| Customer type | Australian businesses with ABN/ACN; B2B invoices only for invoice funding |
Competitive landscape
Australian invoice-finance and related working-capital lenders an SME would compare with Butn.
Butn: 74
- Butn74
- Earlypay73
- Scottish Pacific (ScotPac)Not reviewed
- CapifyNot reviewed
- Major bank invoice / debtor financeNot reviewed
Comparisons
Key leadership
Rael Ross
Cameron Petricevic
Stan Gordon
Founder Rael Ross runs Butn as CEO. Cameron Petricevic chairs the board, and its non-executive directors include Stan Gordon.
Ross is CEO and an executive director (appointed September 2020). He is known for building Butn’s invoice-funding platform for small businesses after earlier work as a qualified accountant and digital entrepreneur. He co-founded Tsikot.com, a large online automotive forum and marketplace in the Philippines, and trained in accounting at Monash University in Melbourne after working in private practice and at a Big Four accounting firm.
Petricevic is an actuary and investment professional with board roles across public and private companies. His earlier roles include AXA Asia Pacific, the Melbourne investment manager Acorn Capital, and a partnership at Kentgrove Capital. He also founded Lucrum Ventures and serves on the board of the software company RocketBoots (ASX: ROC).
Gordon is managing director of Franchised Food Company and is known for building and buying Australian franchise brands such as Cold Rock Ice Creamery and other dessert and quick-service chains. His background fits Butn’s interest in franchise owners and growing small businesses as customers.