Fundbox, a B2B payments and credit network, has raised $176m in its Series C growth equity round and a $150m credit facility.
From the round close, the company will adapt B2B payment experiences by making them faster and more transparent.
The oversubscribed round received investments from Allianz X, Healthcare of Ontario Pension Plan (HOOPP), HarbourVest, 9Yards Capital, Hamilton Lane, SEB Private Equity, Cathay Innovation, Synchrony, MUFG Innovation Partners, Recruit Strategic Partners, GMO Internet Group, and Arbor Ventures.
A number of previous backers including Khosla Ventures, General Catalyst, and Spark Capital Growth also participated.
The FinTech company is a B2B payments and credit network which helps businesses get quicker access to funds. By leveraging machine learning technology, the company analyses transactional data to make accurate credit decisions, with funds being sent the as early as the next business day.
Fundbox founder and CEO Eyal Shinar said, ?The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth. If youre a business owner and dont know when youre 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.p>
Copyright ? 2019 FinTech Global
