Member Exclusive, Payments

SMB payment platform HoneyBook first took a hit, then saw massive payment volume growth in 2020

  • HoneyBook aims to appeal to more small business owners.
  • With so many apps with so many purposes, this could be a challenge going forward.
close

Email a Friend

SMB payment platform HoneyBook first took a hit, then saw massive payment volume growth in 2020

HoneyBook, a platform that helps solopreneurs manage projects and payments, recently announced that it hit $3 billion in business booked on the platform, a billion of which came from the past year alone.

HoneyBook hit $1 billion in total payment volume in 2019.

HoneyBook makes money through monthly subscription fees and through transaction fees. So when its core user base — freelancers and event-based small businesses — was suddenly being threatened by the pandemic, HoneyBook was, too. 

“Mid-March, when we saw so many of these service-based businesses — these small business owners– take a hit, we knew that we were going to take a hit at the same time,” said Oz Alon, co-founder and CEO of HoneyBook.


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account

0 comments on “SMB payment platform HoneyBook first took a hit, then saw massive payment volume growth in 2020”

Payments

Emphasizing high APY, Amex debuts checking account for SMBs

  • Kabbage Checking offers one of the highest APYs available to SMBs with 1.1 percent interest on balances up to $100,000.
  • SMBs can also access a line of credit between $1,000 and $150,000.
Shehzil Zahid | July 07, 2021
Payments

Capital One launches new flexible payment options for small business customers

  • Cash flow problems are among the biggest challenges facing small businesses, particularly during the pandemic.
  • Payments startup Melio will provide access to accounts payable and receivable cash flow management tools for Capital One’s SMB customers.
Ismail Umar | June 29, 2021
Payments

Affirm’s new deal with Shopify bakes it into Shop Pay Installments

  • The partnership gives Affirm a new distribution route with access to 1.7 million merchants.
  • A Barclays report says investors are underappreciating the partnership but that there’s no need.
Shehzil Zahid | June 24, 2021
Member Exclusive, Payments

Revolut moves into e-commerce with Revolut Shopper

  • Revolut Shopper allows users to find online discount deals while offering security with single-use virtual cards.
  • Other new features include purchase protection, username personalization, and the ability to track spending.
Ismail Umar | May 27, 2021
Member Exclusive, Payments

Splitit launches new integrated payment gateway for installment payments

  • Splitit Plus integrates Splitit’s signature installments platform with a payment gateway.
  • Key features include a quick set-up and seamless integration.
Shehzil Zahid | May 14, 2021
More Articles