MYOB agreement extended to 15 November 2027 as Butn confirms seven non-binding offers
Butn Limited (ASX: BTN) has agreed and signed a document with MYOB Australia (MYOB) to extend the agreement dated 1 June 2024 until 15 November 2027, with MYOB to continue its support for the MYOB|Butn invoice finance product. The company also confirmed it has received seven non-binding offers and is in discussions with Northleaf Capital Partners.
For investors, the extension continues the embedded distribution arrangement while the Board assesses the offers. The three headline developments are:
- MYOB agreement extended until 15 November 2027
- Seven non-binding offers received for the whole and, separately, for parts of the Butn group
- Butn and Northleaf in discussions to amend the Finance Facility
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What the MYOB|Butn extension delivers
The renewal keeps the MYOB|Butn product in place for MYOB users. Butn describes the arrangement as reinforcing its position as a leading Australian B2B FinTech, collaborating with strategic partners to offer innovative funding solutions to businesses.
Embedded, in-workflow invoice financing
Via the MYOB|Butn invoice finance product, businesses will continue to have access to embedded, in-workflow, fully integrated invoice financing. The aim is to assist them in managing cashflow and driving growth.
Invoice funding continues to be available at the “click of a Butn” within the MYOB platform.
Invoice finance explained
Invoice finance is a way for a business to access cash tied up in its unpaid invoices. Butn focuses on transactional funding, financing individual transactions and leveraging the end debtor’s credit.
Butn’s transactional model also underpins its MOU with a Top 40 global bank, a capital-light supply chain finance partnership in which the bank provides funding and underwriting while Butn earns technology and servicing fees.
That matters because cashflow is critical for businesses, and late payments can put pressure on small and medium enterprises (SMEs). Butn has funded over $700 million to Australian businesses since 2015.
Rael Ross, CEO and Exec Director, Butn
“Access to transparent, fixed cost finance is vital for SMEs to fully participate in Australia’s rapidly changing economic landscape. We’re excited to continue to support MYOB and their users, further strengthening our position as a leading B2B funder with a technology first mindset and speed to market capabilities…”
Sally Davies, General Manager – Solo and Embedded Finance, MYOB
“Late payments can put immense pressure on cash flow for SMEs, and access to capital can give business owners the boost they need to continue to invest in their operations. MYOB is pleased to extend its partnership with Butn, continuing to empower SME investment and growth through access to instant invoice financing.”
Seven non-binding offers under Board assessment
Butn has received seven non-binding offers for both the whole and, separately, for parts of the Butn group. All received offers are at an early stage, and there is no guarantee any will become binding.
The offers are confidential. The Board is assessing each offer on its own merits and will continue to engage with interested parties to maximise and realise shareholder value. No binding decisions have been made by the Board with regard to any of the seven offers.
Portfolio reshaping is already under way, with the Smash Repair business sale for up to $4.1 million expected to reset Butn’s cost base by more than $1.5 million.
| Development | Status | Investor relevance |
|---|---|---|
| MYOB agreement extension | Agreed and signed, extending the agreement dated 1 June 2024 until 15 November 2027 | MYOB to continue its support for the MYOB|Butn product |
| Seven non-binding offers | Early stage, confidential, no guarantee any will become binding; no binding decisions made by the Board | Board assessing each offer on its own merits to maximise and realise shareholder value |
| Northleaf Finance Facility | Discussions to amend the Finance Facility entered into 1 July 2025 | Butn will continue to update shareholders as progress is made |
Northleaf talks and what happens next
Given these matters and general operating conditions, Butn and Northleaf are engaged in discussions to amend the Finance Facility entered into 1 July 2025.
The forward items stated in the announcement are:
- The MYOB agreement runs until 15 November 2027 (Butn and MYOB).
- Discussions with Northleaf to amend the Finance Facility are ongoing, with no date given (Butn and Northleaf).
- The Board continues assessing the seven non-binding offers, with no timeframe given (Butn Board).
- Butn will continue to update shareholders as progress is made.
The takeaway for investors: a MYOB partnership extended to 15 November 2027, Board-level assessment of the offers, and further shareholder updates to come.
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