Frequently Asked Questions

If you cannot find your answer within the FAQs, please contact us with Live Chat or email us at info@fuelled.co.nz

Fuelled Service

What is Fuelled

Fuelled is a business tool that allows your company to receive immediate cash advance on your outstanding invoices, rather than wait 30, 60 or even 90 days for your customers to pay. You pay a small percentage on each invoice and can sell as many or as few invoices as you wish. Access to this immediate source of finance makes the task of managing cash flow much easier, as well as providing the means to fund growth of your company.

Who is Fuelled?

Fuelled is a Wellington-based cash flow solution company, set up by a group of like-minded people passionate about helping New Zealand businesses succeed. Whether you’re a fast growing business or an established enterprise, we can help fuel your cash flow.

How does Fuelled help my business?

Fuelled takes away the stress of managing cash flow. Business growth often means paying for the people, materials or assets you need, to take on bigger jobs. By funding invoices in advance, Fuelled helps you align your expenditures and your income in a way that won’t leave you caught short by a lack of working capital.

How does Fuelled differ from banks or online lenders?

Organising funds for cash flow can be a hassle to arrange. It can be expensive and require onerous conditions and lots of paperwork. Fuelled is convenient and cost effective way to fuel your business without tying you up in knots.

Is Fuelled a factoring company?

No. Fuelled doesn’t take over your whole debtor ledger or require you to sign up for a minimum period. Nor do we charge monthly administration fees. We simply allow you to sell invoices to us for cash as you need to. We provide a flexible and quick way to access money owed to you immediately so you can grow your business or meet your commitments without waiting for your customers to pay. It's a better way to fund your growth.

Where is Fuelled available?

Fuelled services are currently available to New Zealand businesses only.

How long will Fuelled fund an invoice for?

Funds for an individual invoice are available for a minimum of 7 days and a maximum of 90 days.

How much of the invoice value can be funded?

We fund 90% of the value of your approved invoice.

How long does the process take?

With the majority of invoices you submit you’ll have the funds in your account the next business day. Things like weekends and differing bank standards can extend this to two days on occasion. If this is your first invoice the process may take longer. Please contact us if you need to discuss the finer details of timing.

What do I need to sign up?

You will need:
  • login details to your Company’s Xero Account
  • the authority to transact on your company’s behalf.
You can do a quick eligibility check here.

Can I talk to someone at Fuelled?

You’ll find links to Fuelled Customer Support on the footer of each Fuelled web page. There’s live chat available online, or you can  call a member of Fuelled team. Business hours are Monday to Friday, 9 am to 5 pm. If you need help outside those hours we’re available for chat messages from 8 am to 8 pm. You’ll find the chat icon on the bottom right hand corner. You can also leave your email address on the chat line and we’ll contact you first thing the following business day.

Using Fuelled

Is Fuelled available to anyone?

To ensure your business meets Fuelled criteria for funding we’ve designed a quick online check to assess your accounts as part of the sign-up process. It’s simple to do, so pop on over and we’ll get you started - click here.

Once I have an account, are my invoices guaranteed funding?

Not automatically. Each invoice you submit for funding goes through a separate assessment. Once you’ve signed up with Fuelled you’ll see a list of your invoices that meet our criteria. You can select which ones you want to submit and they’ll each go through a quick check behind the scenes.

Why don’t all my Xero invoices show in Fuelled?

Not all your Xero invoices will appear in Fuelled. Here’s why you may not see them:
  • The invoice may have a value less than $1000
  • The due date may be more than 90 days into the future
  • The due date may be less than 7 days into the future
  • The invoice may not have been sent to your customer
  • The debtor may not meet our minimum requirements

When can I expect to see the funds from my invoice?

With the majority of invoices you’ll have the funds in your account the same (business) day. On occasion, mainly due to weekends and different bank standards (or if this is your first invoice) it may take up to 2 days. If you need to discuss the finer details of timing then please contact us.

What is an “advance”?

Fuelled will fund 90% of the total invoice. This 90% is the advance. When you repay Fuelled, the direct debit will consist of the advance and a fee.

Can I pay Fuelled back early?

Yes you can and we won’t charge you any extra for doing so. Even better, we’ll recalculate a reduced fee reflecting the new time frame for the funding.

Can I ask for an extension if my customer is paying late?

We know from time to time things happen that are out of your control and we want to be able to help. All we need is a heads up that the payment is going to be late and we can recalculate the new fee and reschedule the new due date. Please note that conditions may apply.

Is direct debit the only form of repayment?

Yes. Here at Fuelled we like to keep things simple so let us do the work for you. We’ll send you a reminder of the direct debit prior to it happening. We’ll tell you when and how much will be deducted from your account. All we need you to do is fill out a direct debit form when you submit your first invoice.

Do I have to fill out any paper forms?

Absolutely none. It’s that simple.

Why do you collect my personal information?

It’s not really for our purposes. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) requires financial service providers like Fuelled to detect and deter money laundering and terrorism financing. As part of these obligations we collect the full name, address and date of birth of all our Customers, as well as details of your Driver's License or Passport.

What fees does Fuelled have?

There are no set-up, documentation, administration, early repayment or monthly or annual fees. There is a funding fee for each invoice, consisting of a transaction fee and interest, and fees for late payment. See Fuelled Terms and Conditions for details.

Fuelled & Xero

What is the relationship between Fuelled and Xero?

Fuelled is Xero’s preferred financial services partner for providing working capital for small businesses. Integration with Xero enables Fuelled to easily assess your eligibility and determine which of your invoices can be funded. With access to your Xero data we can make the whole process simple, timely and transparent.

Why does Fuelled need access to my Xero account?

At Fuelled we like to work openly and honestly with our clients. Having access to your data in the Xero cloud ensures that we’re on the right track with credit decisions. And of course there’s the added bonus of no paperwork.

What data do you access in my Xero account?

As part of your sign up process you authorise Fuelled in your Xero account. This means we can see the accounting data we need for your application saving you from uploading paperwork. We access:
  • Profit and loss information
  • Balance sheet information
  • Your debtors’ payment history information
We don’t access:
  • Personal employee information
  • Inventory information
  • Details about your customers’ employees identities

How do Fuelled transactions show in my Xero?

We're all about making funding your business easy. Therefore we create all necessary accounting entries in your Xero for each invoice that you fund. There are two transactions for each funded invoice:  
  1. Repayment of the Advance is tracked against a Current Liability Account
  2. Fees are coded against an Expense Account
When you fund your first invoice, we ask you to either create new accounts for Fuelled transactions, or you can choose to use existing ones. Account settings can be changed at any time on My Account -tab.

My Account

How do I reset my password?

Head to your My Account -page and click Change Password. Alternatively you can go to our login page and select ‘Forgotten Password’. Either way, follow the easy steps and you’re on your way again.

How do I change my Fuelled details?

You can update your details by logging in and clicking the My Account -button on the header menu.

How can I see my Fuelled transaction history?

Log in to your Fuelled account and select the “Transaction History” tab. Here you’ll see all your current and previous transactions with Fuelled.

Privacy & Security

How are my details kept confidential?

Fuelled can look at or load data from your Xero account when you authorise it. We take all reasonable steps to ensure that any information we view, collect, use or disclose is stored (if at all) in a secure environment accessed only by authorised people for legitimate business purposes.

Why should I trust Fuelled with my Xero account?

Fuelled is a trusted partner of Xero. Our integration has been audited by Xero to ensure privacy and security. Your details are held securely and not shared with any third parties.

Will my customers know I am using Fuelled?

Under normal circumstances no, unless you choose to tell them. From the outside the Fuelled process is invisible and seamless. We take confidentiality seriously.

Does Fuelled run a credit or identity check?

Yes, as part of the initial formalities we may talk to a credit agencies and identity verification services.

The Fine Print

What are Fuelled’s terms and conditions?

You’ll find them here.

Does Fuelled require a personal guarantee?

Unlike typical business loans, Fuelled doesn’t require any personal guarantees. Our security is only over the invoices we fund, not your fixed assets.

Will Fuelled affect my business’s ability to borrow from banks?

The great thing about Fuelled is that we’re not really lending you money, we’re buying some of your accounts receivables. This means your ability to borrow from your bank or other lenders isn’t affected. Of course should there be any issues with repayment, we do follow a collections process that could affect your ability to borrow in the future.

Why does Fuelled not fund the full invoice amount?

Fuelled prides itself on ensuring your company remains in good financial health. By funding only 90% of the invoice we can ensure that when your invoice is repaid your company has the funds to cover both the funded amount and the relevant fees.