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Fundbox
From Wikipedia, the free encyclopedia
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Fundbox is a working capital platform based in San Francisco that offers credit and payments as a service to small businesses. Founded in 2013, the company innovates technology to help optimize cash flow for small businesses.
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History
The concept for Fundbox was partially inspired by co-founder Eyal Shinar's mother, who struggled with late payments at the employment agency she owned and operated in Israel.[3] Founded by Yuval Ariav, Eyal Shinar, and Tomer Michaeli in 2013,[4] it operated for a year in stealth mode before becoming available to the public in 2014.[5] After launch, it announced it had received $17.5 million in funding from investors led by Khosla Ventures.[6][7] In 2020, Fundbox hired Marten Abrahamsen, a former investment banker, as the company's chief financial officer.[8]
As of November 2021, the company has received a total of $410 million in funding and a valuation of $1.1 billion, including $100 million in funding led by Healthcare of Ontario Pension Plan.[9]
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Services
Fundbox offers working capital products to small businesses.[9] Its primary offering is a revolving line of credit to manage cash flow.[10][5][4] Fundbox uses a banking partner to give short-term funds up to $100,000.[8] It also offers membership-based offerings and payments which include Flex Pay, which provides additional payment options for business expenses.[9] Its services are offered online and through a tech platform[1] that integrates with QuickBooks, FreshBooks, Xero and Indeed.[11]
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References
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