Fundbox
| Founded | August 2013 in Israel[1] |
|---|---|
| Founders | Eyal Shinar, Tomer Michaeli, Yuval Ariav |
| Headquarters | San Francisco, California |
Key people | |
| Website | fundbox |
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.
History
[edit]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]
Services
[edit]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]
References
[edit]- ^ a b Ben-David, Ricky (1 December 2021). "Israeli-founded firm Fundbox becomes unicorn with fresh $100m investment". The Times of Israel.
- ^ "Founder Of Fundbox Steps Aside As CEO". www.pymnts.com. 2 July 2020. Retrieved 22 April 2021.
- ^ Lapowsky, Issie (March 19, 2015). "Startup Raises $40M to Keep Small Businesses' Cash Flowing". Wired. Retrieved May 18, 2015.
- ^ a b Slade, Hollie (April 10, 2014). "Fundbox Raises $17.5M Series A To Bridge Gap Between Invoices For B2B". Forbes. Retrieved July 25, 2021.
- ^ a b Magee, Christine (March 19, 2015). "Fundbox Raises $40 Million To Pay Invoices On Demand". TechCrunch. Retrieved July 25, 2021.
- ^ Rao, Leena (April 10, 2014). "Lending Startup Fundbox Raises $17.5M From Khosla To Help SMBs Improve Cash Flow". TechCrunch. Retrieved May 18, 2015.
- ^ Novet, Jordan (April 10, 2014). "Fundbox gets $17.5M to give small businesses money when they need it". VentureBeat. Retrieved May 18, 2015.
- ^ a b Trentmann, Nina (2020-01-14). "Fundbox Hires First CFO as Fintech Startup Eyes Future IPO". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-12-13.
- ^ a b c Azevedo, Mary Ann. "Fundbox, a fintech focused on SMBs, raises $100M at a $1.1B valuation". TechCrunch.
- ^ Cowley, Stacy. "Online Lenders Offer a Faster Lifeline for Small Businesses". The New York Times. Retrieved May 18, 2015.
- ^ "Fundbox and Indeed partner to extend growth resources to small businesses". calcalistech.com. June 15, 2021. Retrieved July 25, 2021.