Fintech startup Fundbox, which deals with payments to vendors, determine a credit line and calculate the risk of each invoice, has raised $176 million in a series C. The company also announces the raising of another $ 150 million line of credit, which will not be used in the meantime.
The financing round led by a consortium of funders, including OOPP, the Ontario Pension Fund; Allianz X, Alliance’s Digital Investment Fund; Hamilton Lane Private Investment Fund; Venture capital fund Arbor Ventures. As well as existing investors in Khosla Ventures, General Catalyst, and Spark Capital Growth. The fundraising also included a scandalous component in which existing shareholders could sell some of their shares to new investors.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
Founded in 2013 by CEO Eyal Shinar, Tomer Michaeli, and Yuval Ariav, Fundbox has raised $326 million to date. The company provides service to approximately 200,000 businesses and employs 250 people, in SF, Dallas, in the United States and in Israel.
Fundbox CEO and founder Eyal Shinar said, “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. 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.”
FinTech is one of the most prominent startups in Israel, with 417 companies, according to Startup Nation Central data. Many startups in the field are engaged in gathering and analyzing information from a variety of sources, from which to assess risk and assist in making business decisions.
