Versapay vs Mulligan Funding

Choosing the right financial solution for your B2B operations requires understanding what each platform actually delivers. While Versapay operates as an AR automation and payments platform and Mulligan Funding provides working capital loans, both address different aspects of the cash flow challenge facing manufacturers, distributors, and wholesalers. Resolve Pay delivers a combined solution that integrates buyer credit decisioning, non-recourse net terms financing, and full accounts receivable automation, enabling sellers to offer Net 30/60/90 terms while receiving accelerated cash and gaining protection against approved buyer default risk. Understanding these fundamental differences helps mid-market B2B sellers select the approach that matches their cash flow objectives, operational needs, and growth strategy.

Key Takeaways

• Versapay and Mulligan Funding serve fundamentally different purposes: Versapay provides AR automation and payment software without invoice financing capabilities, while Mulligan Funding offers working capital loans without AR management tools
• Versapay processes 110M+ transactions annually across its network but does not advance funds on invoices or provide buyer credit risk protection
• Mulligan Funding has provided $3B+ in total funding since 2008 through business loans that create repayment obligations independent of individual customer invoice outcomes
• Resolve Pay can advance up to 90-100% upfront on eligible approved invoices within 24 hours and provides non-recourse protection against approved buyer default risk
• 15,000+ businesses actively use Resolve Pay's platform, benefiting from integrated credit decisioning, AR automation, and collections management
• Resolve Pay offers native net-terms checkout integrations with Shopify, BigCommerce, Magento 2, and WooCommerce

Understanding B2B Payment Solutions: Three Distinct Approaches

The B2B financial technology market encompasses three distinct categories that serve fundamentally different operational models and business objectives. Understanding these differences helps finance leaders evaluate tools that address their specific cash flow challenges.

AR automation platforms like Versapay function as software systems that help businesses manage their accounts receivable processes. These platforms provide:

• Invoicing capabilities and customer payment portals
• Collections management and workflow tools
• Cash application and reconciliation automation
• ERP integration for data synchronization

The value proposition centers on improving operational efficiency through better workflow management and visibility. These systems focus on receivables management rather than financing.

Working capital lenders like Mulligan Funding represent business financing approaches for small and mid-sized companies. These companies provide:

• Business loans based on revenue and creditworthiness
• Repayment structured through scheduled debits
• General-purpose working capital for operations
• Qualification based on the borrowing business's profile

The funding addresses general cash flow needs with repayment obligations that remain regardless of customer payment behavior.

Integrated net terms platforms like Resolve Pay combine financing and automation in a single solution:

• Sellers offer Net 30/60/90 terms to approved buyers
• Resolve can advance up to 90-100% upfront on eligible approved invoices within 24 hours
• Resolve provides non-recourse protection against approved buyer default risk
• The platform simultaneously handles invoice generation, payment reminders, reconciliation, and collections

This approach connects buyer credit decisioning, invoice advances, and AR automation while reducing exposure to covered buyer credit defaults on eligible approved financed invoices.

The fundamental distinction lies in risk structure. Versapay helps manage receivables through software workflows. Mulligan Funding provides capital with borrower repayment obligations. Resolve Pay combines buyer credit evaluation, optional invoice advances, and non-recourse protection against approved buyer defaults.

Versapay

Versapay's AR Automation and Payments Focus

Versapay has operated in the accounts receivable space since 2006, building a software platform focused on digitizing and automating AR processes. The platform serves over 10,000 customers and processes significant transaction volume through its B2B payment network.

Core capabilities include:

• Digital invoicing and customer portal: Electronic invoice delivery and buyer self-service access for viewing invoices, making payments, and managing accounts
• Collections management: Workflow tools for AR teams to track outstanding invoices and coordinate follow-up activities
• Cash application: Automated payment matching to invoices
• ERP integrations: Native connections to NetSuite, Sage Intacct, and Microsoft Dynamics 365
• Payment acceptance: Multiple payment methods through their payment infrastructure

The platform receives user reviews praising ease of use and customer portal experience. Versapay focuses on workflow efficiency and payment processing for businesses that manage their own credit decisions and cash flow timing.

Versapay's AR Automation Approach

Versapay is primarily an accounts receivable and B2B payments platform. The system helps businesses manage invoice delivery, payment collection, and cash application through software automation.

Key characteristics of Versapay's approach:

• Software-based AR workflow management without invoice financing
• Payment processing and collection tools for customer invoices
• ERP integration for accounting synchronization
• Customer portal for buyer self-service
• Ecommerce payment APIs and SDKs available

Resolve Pay takes a different approach by combining accounts receivable automation with buyer credit decisioning and optional non-recourse invoice advances on eligible approved invoices. This integration connects credit evaluation, financing, and AR workflows in one platform.

Mulligan Funding

Mulligan Funding's Working Capital Model

Mulligan Funding has provided working capital to small and medium-sized businesses since 2008, reporting more than 15,000 businesses served and over $3 billion in total funding. The company operates as a business lender offering financing based on business revenue and credit profile.

Key characteristics include:

• Revenue-based qualification: Businesses typically need established revenue to qualify
• Funding speed: Accelerated funding once approved
• Loan structure: Working capital loans with repayment schedules determined through underwriting
• Scheduled repayment: Automatic debits from business bank accounts

The company maintains positive customer reviews frequently praising the speed of the process and customer service. Mulligan Funding serves businesses seeking general-purpose working capital with scheduled repayment obligations.

Mulligan Funding's Working Capital Approach

Mulligan Funding provides business working capital loans based primarily on the applicant business's qualifications. The financing addresses general operational cash flow needs through:

• Business loan products with qualification requirements
• Repayment schedules independent of specific customer invoices
• Evaluation of the borrowing business's creditworthiness
• General-purpose capital for business operations

Resolve Pay instead connects buyer credit decisioning, net terms, accounts receivable workflows, and eligible invoice advances within a B2B seller platform. The model ties optional financing directly to approved customer transactions rather than creating general loan obligations.

Comparing AR Automation Capabilities

Both Versapay and Resolve Pay offer accounts receivable automation capabilities, but with different integration and scope:

Versapay's AR automation:

• Automated invoicing and delivery
• Customer payment portal for buyer access
• Collections workflow tools
• Cash application automation
• ERP integrations for accounting systems

Resolve Pay's AR automation:

• Automated invoicing with buyer credit decisioning
• White-labeled payment portal maintaining seller branding
• AI-powered collections with multi-channel automation
• Intelligent payment reconciliation
• Invoice financing integration on eligible approved transactions
• Native net-terms checkout for ecommerce platforms

Resolve Pay's AR automation platform includes workflow automation while adding buyer credit evaluation and optional non-recourse advances that Versapay does not provide. The integrated approach ensures seamless data flow between credit decisions, financing, and collections.

Mulligan Funding primarily provides working capital financing rather than a comprehensive accounts receivable automation platform. Businesses using its financing can manage invoicing, payment tracking, collections, and reconciliation through their existing systems.

Comparing Financing Approaches

The financing approaches differ fundamentally in structure and purpose:

Mulligan Funding financing:

• Business working capital loans
• Qualification based on borrower creditworthiness
• Scheduled repayment obligations for the business
• General-purpose capital not tied to specific invoices
• No buyer credit assessment included

Resolve Pay financing:

• Invoice-based advances on eligible approved transactions
• Qualification includes buyer credit evaluation through AI Credit Engine
• Non-recourse protection against covered buyer credit defaults on eligible approved financed invoices
• Advances tied directly to specific customer invoices
• Integrated with net terms workflows

Resolve Pay's non-recourse structure provides a different risk profile than business loan models. When Resolve approves and finances an eligible invoice, its non-recourse structure provides protection against covered buyer credit defaults, subject to program terms. This structure aligns with how B2B sales actually work, connecting financing to specific customer transactions rather than creating general debt obligations.

The Federal Reserve's 2026 research found that 54% of surveyed small employer firms faced challenges paying operating expenses, while 50% experienced uneven cash flow. These findings highlight why B2B businesses should carefully evaluate financing approaches, including traditional business loans and invoice-based financing, when managing working capital.

Automating Collections and Credit Decisions

AR automation has evolved from basic workflow tools to intelligent systems that handle complex tasks with minimal human intervention.

Versapay's Collections Approach

Versapay provides collections workflow management tools that help AR teams coordinate follow-up activities:

• Task assignment and scheduling for AR staff
• Payment reminder templates and sequences
• Activity tracking for outstanding invoices
• Integration with AR team workflows

These capabilities improve efficiency but require AR team oversight and management.

Resolve Pay's AI-Powered Collections

Resolve Pay's collections automation goes beyond workflow management to intelligent execution:

• AI credit decisioning: Evaluates buyer data including cash flow trends, payment history, and business health indicators for credit decisions
• Smart reconciliation: Machine learning-powered payment matching connects payments to invoices automatically
• Agentic collections: Multi-channel automated sequences across email, SMS, and voice AI with intelligent escalation based on buyer response patterns
• Dynamic adaptation: Systems continuously optimize based on outcomes rather than following static rules

This intelligent automation reduces AR overhead while improving collections effectiveness. The combination with non-recourse financing means Resolve Pay handles both the cash acceleration and the collections process.

Mulligan Funding's Collections Approach

Mulligan Funding focuses on business financing rather than offering a dedicated accounts receivable automation suite. Businesses using its working capital products typically manage these activities through separate operational systems:

• Generate and send invoices through separate systems
• Track payment status across customers
• Manage collections follow-up
• Reconcile payments to invoices
• Handle disputes and exceptions

This gap means businesses seeking both funding and AR efficiency must evaluate and integrate multiple vendors.

Non-Recourse Protection vs Business Loan Obligations

The distinction between non-recourse invoice advances and business loans fundamentally changes the seller's risk profile when offering net terms to buyers.

Business Loan Structure

In business loan arrangements like Mulligan Funding, the borrower retains repayment obligations:

• The borrowing business must repay according to its loan agreement
• Repayment obligations continue regardless of individual customer invoice outcomes
• Qualification focuses on borrower creditworthiness rather than customer quality
• Loans provide general-purpose capital unconnected to specific receivables

This structure means businesses receive capital but maintain obligations that continue even if customers delay payment or default.

Non-Recourse Invoice Advances

Resolve Pay's non-recourse model provides different risk protection on approved invoices:

• Resolve evaluates buyer creditworthiness and approves credit lines
• Resolve evaluates buyer creditworthiness and determines eligibility for financing and non-recourse protection
• If an eligible approved buyer defaults for a covered reason, the seller generally retains the advance, subject to program terms
• The seller benefits from accelerated cash access and reduced exposure to covered buyer credit defaults

This structure aligns incentives. Resolve's AI Credit Engine evaluates buyers carefully because Resolve bears the consequences of poor credit decisions on approved invoices. Sellers benefit from professional credit assessment without building internal underwriting teams.

The non-recourse protection proves particularly valuable for:

• New customer relationships where payment history is limited
• Larger orders that create concentrated credit exposure
• Growth periods when extending more credit increases risk
• Economic uncertainty when customer financial stability is harder to assess

Buyer Payment Experience and Portal Features

The buyer payment experience directly impacts collection speed and customer satisfaction.

Versapay's Customer Portal

Versapay provides a customer portal where buyers can view invoices, make payments, and manage their accounts. The portal supports multiple payment methods and self-service capabilities for buyer convenience.

Mulligan Funding's Buyer Interaction

Mulligan Funding has no buyer-facing component. The financing relationship is entirely between Mulligan and the seller. Buyers continue interacting with the seller's existing invoicing and payment processes.

Resolve Pay's White-Labeled Portal

Resolve Pay's payment portal maintains the seller's brand throughout the buyer journey:

• Branded experience: Portal displays seller branding throughout
• Multiple payment options: ACH, wire transfer, credit card, and check acceptance
• Self-service capabilities: Buyers view invoices, credit lines, payment history, and available credit
• Dispute management: Buyers flag issues through the portal
• Mobile-responsive: Checkout-style payment experience across devices

The white-label approach preserves customer relationships. Buyers interact with the seller's brand rather than third-party financing company branding. Supporting multiple payment rails accommodates buyer preferences while maintaining a single branded portal that improves payment velocity and customer satisfaction.

Credit Decisioning Speed and Buyer Evaluation

Credit decisioning speed directly impacts sales velocity and deal closure timing.

Versapay: No Credit Decisioning

Versapay does not evaluate buyer creditworthiness or make credit decisions. The platform manages AR workflows but leaves credit assessment to the seller's internal processes. Businesses must develop internal credit policies, collect references, and make approval decisions through their own review processes.

Mulligan Funding: Seller-Focused Evaluation

Mulligan Funding evaluates the seller's creditworthiness for loan qualification. The approval process focuses on business revenue, cash flow, credit history, and operational metrics. Buyer credit assessment is not part of the model because the financing provides general working capital.

Resolve Pay: AI-Powered Buyer Assessment

Resolve Pay's AI Credit Engine evaluates buyer creditworthiness with accelerated decisions:

• Comprehensive data analysis: Evaluates buyer data points including cash flow trends, payment history, behavioral signals, and business health indicators
• Rapid decisions: Many approvals delivered quickly
• Dynamic credit lines: Limits adjust automatically based on payment history and relationship development
• Business credit evaluation: Buyers are evaluated without impacting personal credit scores

This approach replaces manual trade reference calls, spreadsheet tracking, and internal credit committee reviews. The AI handles the research and risk assessment that would otherwise require dedicated credit management resources.

Industry Focus and Market Fit

Each platform serves different market segments with varying operational models:

Versapay's Market

Versapay primarily serves mid-market to enterprise companies seeking AR automation software. The platform fits businesses with established AR teams needing workflow efficiency, process standardization, and payment processing tools. The implementation approach suggests focus on organizations with IT resources for integration projects.

Mulligan Funding's Market

Mulligan Funding serves established small and mid-sized businesses needing working capital. The qualification requirements indicate focus on businesses with established revenue and predictable cash flow to service loan payments. The model suits companies seeking general operating capital.

Resolve Pay's Market

Resolve Pay serves mid-market B2B sellers in manufacturing, distribution, and wholesale:

• HVAC parts distributors extending terms to contractors
• Electrical and plumbing suppliers selling to commercial customers
• Industrial equipment manufacturers with dealer networks
• Medical and pharmaceutical distributors serving healthcare facilities
• Construction materials suppliers working with builders

These industries share common characteristics: B2B sales models, expectation of net terms, significant invoice values, and customer relationships that benefit from competitive payment terms.

The platform's integrations with Shopify, BigCommerce, Magento 2, and WooCommerce also serve B2B ecommerce sellers looking to offer net terms at checkout. This ecommerce capability provides embedded net-terms financing that neither Versapay's general payment APIs nor Mulligan Funding's loan products directly support.

Ecommerce Integration Approaches

B2B ecommerce sellers increasingly need integrated payment and financing solutions at checkout.

Versapay's Ecommerce Capabilities

Versapay supports ecommerce payment functionality through APIs, SDKs, and hosted checkout capabilities. Businesses can integrate Versapay's payment processing into their ecommerce platforms through these technical tools.

Mulligan Funding's Ecommerce Approach

Mulligan Funding does not provide ecommerce integrations or software tools. The working capital loan model operates separately from transaction flows and sales channels.

Resolve Pay's Native Integrations

Resolve Pay focuses on embedding B2B net terms directly into supported ecommerce checkout flows. The platform offers native integrations with:

• Shopify for B2B commerce
• BigCommerce for wholesale operations
• Magento 2 for custom implementations
• WooCommerce for WordPress-based stores

These integrations enable B2B buyers to select net terms as a payment option during checkout, with AI-powered credit assessments supporting faster approvals for qualifying buyers. The embedded approach allows buyers to apply for credit within the checkout experience, reducing manual steps and streamlining purchases.

Resolve Pay's Integrated Platform for B2B Sellers

The comparison reveals different approaches to B2B cash flow challenges. Businesses seeking both AR automation and working capital currently face choices:

Separate vendor approach:

• AR software from one provider
• Financing from another provider
• Two vendor relationships to manage
• Data silos between systems
• No coordination between workflows and financing

Resolve Pay's integrated approach:

• Single platform for net terms, financing, and AR automation
• Non-recourse protection on eligible approved invoices
• AI credit decisioning integrated with advance capabilities
• Agentic collections coordinated with payment status
• Unified data across all functions

The integration advantages extend to implementation:

• Native ERP sync: Two-way integration with QuickBooks Online, Xero, Sage Intacct, and NetSuite
• Ecommerce integration: Embedded checkout for major platforms
• Rapid deployment: Most teams launch quickly
• SOC 2 Type II attested: Resolve Pay states that its controls have undergone independent SOC 2 Type II attestation

Resolve Pay's founding team brings relevant expertise as a spinout from Affirm with leadership from Affirm, Amazon, and PayPal. The platform applies consumer financing experience to B2B commerce challenges. The 15,000+ business user base demonstrates market adoption of the integrated approach.

Frequently Asked Questions

How Does Resolve Pay's Non-Recourse Net Terms Model Work?

Resolve Pay evaluates business buyers using AI-powered underwriting and can provide non-recourse advances on eligible approved invoices. Sellers can receive up to 90-100% upfront within 24 hours while approved buyers retain their payment terms. The non-recourse structure helps protect sellers from approved buyer default risk, transferring that risk to Resolve on qualifying transactions.

How Does Resolve Pay Evaluate B2B Buyers?

Resolve Pay uses AI-powered underwriting and business data to evaluate buyer creditworthiness. The credit workflow analyzes cash flow trends, payment history, behavioral signals, and business health indicators. Many customers report receiving approval decisions quickly, enabling faster sales cycles without manual credit committee reviews.

What Accounts Receivable Tasks Can Resolve Pay Automate?

Resolve Pay supports invoicing, payment reminders, collections workflows, payment reconciliation, bookkeeping synchronization, and AR visibility. The platform's AI-powered tools are designed to reduce manual work throughout the invoice-to-cash process. Agentic collections use multi-channel automation across email, SMS, and voice AI with intelligent escalation based on buyer response patterns.

Which Ecommerce and Accounting Platforms Integrate With Resolve Pay?

Resolve Pay supports Shopify, BigCommerce, Magento 2, and WooCommerce for ecommerce workflows with native net-terms checkout integration. The platform also supports accounting and ERP integrations including QuickBooks Online, Xero, Sage Intacct, and Oracle NetSuite. API options enable custom system connections for businesses with proprietary technology stacks.

What Payment Methods Can Buyers Use With Resolve Pay?

Resolve Pay's branded payment portal supports ACH, wire transfers, credit cards, and checks. This gives B2B buyers multiple ways to settle invoices while keeping payment activity connected to the seller's receivables workflow. The white-labeled portal maintains the seller's branding throughout the payment experience rather than displaying third-party financing company branding.

This post is to be used for informational purposes only and does not constitute formal legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Resolve assumes no liability for actions taken in reliance upon the information contained herein.