“The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth. If you’re a business owner and don’t know when you’re getting paid next or whether you have the funds to complete a transaction, you lose valuable time and important business opportunities,” said Eyal Shinar, Founder, and CEO of Fundbox. “The remedy to this uncertainty is the ability to facilitate quick risk decisions, faster payments, and more flexible terms so our customers have greater predictability related to their revenue and cash flow. This new investment round validates the market opportunity and that our team is on the right path as we continue to focus on transforming B2B commerce for the better.”
Please also watch in video: Fundbox: From Idea to Successful Small Business App. By Intuit Developer , Published on Jun 12, 2015
FUNDBOX
Business Wire
September 24, 2019 07:00 AM Eastern Daylight Time
Fundbox Raises $326 Million to Expand the Industry’s First B2B Payments and Credit Network
Fintech Leader Scales To Help More Businesses Harness Opportunities To Grow
SAN FRANCISCO–(BUSINESS WIRE)–Today Fundbox, the B2B payments and credit network designed to facilitate and accelerate B2B commerce at scale, announced that it has raised $176 million in growth equity funding for its Series C round. In addition, the company also announced that it has secured a $150 million credit facility.
Fundbox will use these new investments to transform the B2B payments and credit experience by making transactions simple, fast and transparent so businesses will have greater cash flow predictability.
The Series C round was oversubscribed and includes a diverse range of leading institutional investors, including Allianz X, Healthcare of Ontario Pension Plan (HOOPP), HarbourVest, 9Yards Capital, Hamilton Lane, SEB Private Equity (on behalf of clients), Cathay Innovation, Synchrony, MUFG Innovation Partners Co., Ltd., Recruit Strategic Partners, GMO Internet Group, and Arbor Ventures, as well as participation from the major existing Fundbox investors including Khosla Ventures, General Catalyst and Spark Capital Growth.
“The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth. If you’re a business owner and don’t know when you’re getting paid next or whether you have the funds to complete a transaction, you lose valuable time and important business opportunities,” said Eyal Shinar, Founder, and CEO of Fundbox. “The remedy to this uncertainty is the ability to facilitate quick risk decisions, faster payments, and more flexible terms so our customers have greater predictability related to their revenue and cash flow. This new investment round validates the market opportunity and that our team is on the right path as we continue to focus on transforming B2B commerce for the better.”
“Fundbox has demonstrated a track record of success in a competitive B2B fintech market by building the first payment and credit network,” said Nazim Cetin, CEO of Allianz X. “Our investment underscores the belief that Fundbox will continue setting itself apart in e-commerce by employing technologies that allow corporate customers to focus on growing their business. We look forward to collaborating with Fundbox and supporting its continued growth in an expanding $21 trillion market.”
