Fundbox, a San Francisco, CA-based B2B payments and credit network designed to facilitate and accelerate B2B commerce at scale, raised $326m in funding.
This included:
– $176m in growth equity funding for its Series C round from 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 existing including Khosla Ventures, General Catalyst and Spark Capital Growth, and
– a $150m credit facility.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Eyal Shinar, Founder and CEO, Fundbox has built a two-sided payments and credit network designed specifically to accelerate B2B commerce. With automated machine-learning risk decisions, fast payments to sellers, and flexible payment terms to the buyer, sellers can focus on increasing average order volumes (AOV) while buyers have increased purchasing confidence and repayment flexibility.
Since founding in 2013, the company has raised $300m in equity funding from investors led by Khosla Ventures, General Catalyst, Spark Growth Capital and Jeff Bezos.
FinSMEs
24/09/2019