Fundbox

Last updated
Fundbox
FoundedAugust 2013 (2013-08) in Israel [1]
FoundersEyal Shinar, Tomer Michaeli, Yuval Ariav
Headquarters San Francisco, California
Key people
Website fundbox.com

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.

Contents

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]

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]

Related Research Articles

Khosla Ventures is a private American venture capital firm based in Menlo Park, California. It was founded by entrepreneur Vinod Khosla in 2004.

<span class="mw-page-title-main">Tradeshift</span> Global cloud based business platform and network

Tradeshift is a cloud based business network and platform for purchase-to-pay automation, supply chain payments, marketplaces, virtual cards and supply chain financing. Its 2018 round of funding, led by Goldman Sachs, raised US$250 million at a valuation of $1.1 billion, giving the company unicorn status. Tradeshift is headquartered in San Francisco, California and has offices in London, Copenhagen, Bucharest and Kuala Lumpur. Tradeshift has reprocessed over $1 trillion USD through transactions on its network.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American multinational financial services and SaaS company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States, and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

<span class="mw-page-title-main">Kriya (company)</span> British business finance lender

Kriya is a British business finance lender, specialising in invoice finance, business loans and embedded finance. It is described as a FinTech company.

<span class="mw-page-title-main">Wise (company)</span> Financial services company

Wise, previously known as TransferWise, is a financial technology company focused on global money transfers. Headquartered in London, it was founded by Kristo Käärmann and Taavet Hinrikus in January 2011. As of 2023, it offers three main products: Wise Account, Wise Business, and Wise Platform.

<span class="mw-page-title-main">Wave Financial</span> Canadian provider of financial software and services for small businesses.

Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighborhood in Toronto, Canada.

<span class="mw-page-title-main">Stripes (growth equity firm)</span> American equity and venture capital firm

Stripes is a private equity and venture capital firm based in Manhattan, New York, founded in 2008. In 2024, Stripes has US$7 billion of assets under management and more than 80 investments. Notable investments include On Running and Monday.com.

<span class="mw-page-title-main">Gusto, Inc.</span> American payroll and benefits company

Gusto, Inc. is a company that provides payroll, benefits, and human resource management software for businesses based in the United States. Gusto handles payments to employees and contractors and also handles paperwork necessary to help client companies comply with tax, labor, and immigration laws.

<span class="mw-page-title-main">SumUp</span> Financial technology company

SumUp is a global financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates business tools created specifically for the micro and nano segment.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021. However, Gandhi left Nium in October 2023, around the time Nium's Chief Product Officer also left the company and Nium announced a layoff of over 10% of its global staff.

<span class="mw-page-title-main">Tide (financial service)</span> UK financial technology company

Tide is a UK financial technology company providing mobile-first banking services for small and medium-sized enterprises. It enables businesses to set up a current account and get instant access to various financial services.

Pine Labs is an Indian company that provides point of sales systems and payment systems, founded in 1998. The company has a valuation of over US$5 billion.

Upgrade, Inc. is an American neobank founded in 2016. It has raised $600 million in equity funding and made over $10 billion in loans since its launch in 2017. Upgrade is headquartered in San Francisco, California with offices in Phoenix, Arizona and Montreal, Quebec, Canada. The company offers credit and banking products to consumers and delivers fixed-rate credit cards and loans. The company's other services include credit monitoring and education tools.

<span class="mw-page-title-main">Cred (company)</span> Indian financial technology company

Dreamplug Technologies Pvt. Ltd. d/b/a CRED is an Indian fintech company, based in Bangalore. Founded in 2018 by Kunal Shah, it is a reward-based credit card payments app. Cred also lets users make house rent payments and provides short-term credit lines.

Airwallex is a multinational financial technology company offering financial services and software as a service (SaaS). Founded in 2015 in Melbourne, Australia and currently based in Singapore, the company is a financial technology platform providing cross-border payments and financial services to businesses through a proprietary banking network and its API. It also provides services and products such as business accounts, expense cards, and payroll, among others. It was Australia's third technology unicorn company overall. With a valuation of US$5.5 billion, as of 2022, the company processed $50 billion in annualized transactions.

<span class="mw-page-title-main">Paystack</span> Nigerian financial technology company

Paystack is a Nigerian financial technology company that offers payment processing services to businesses and was acquired by Irish-American financial services company Stripe for $200M in 2020. Its headquarters is located in Lagos, Nigeria.

GoCardless is a fintech company that specialises in bank payments including recurring payments, Direct Debit processing and Open Banking. GoCardless is headquartered in London.

Ramp is a Manhattan-based multinational financial technology company that offers corporate charge cards, expense management, and bill-payment software. The company is headquartered in the Flatiron District of New York City.

PAPAYA Global is a fintech SaaS company that specializes in global workforce payroll and payments. The company was founded in 2016 by Eynat Guez, Ruben Drong, and Ofer Herman. Eynat Guez is the CEO and has been since the company was established. The company gained unicorn status in 2021. In March 2022, Papaya Global acquired Azimo.

References

  1. 1 2 Ben-David, Ricky (1 December 2021). "Israeli-founded firm Fundbox becomes unicorn with fresh $100m investment". The Times of Israel.
  2. ↑ "Founder Of Fundbox Steps Aside As CEO". www.pymnts.com. 2 July 2020. Retrieved 22 April 2021.
  3. ↑ Lapowsky, Issie (March 19, 2015). "Startup Raises $40M to Keep Small Businesses' Cash Flowing". Wired . Retrieved May 18, 2015.
  4. 1 2 Slade, Hollie (April 10, 2014). "Fundbox Raises $17.5M Series A To Bridge Gap Between Invoices For B2B". Forbes . Retrieved July 25, 2021.
  5. 1 2 Magee, Christine (March 19, 2015). "Fundbox Raises $40 Million To Pay Invoices On Demand". TechCrunch . Retrieved July 25, 2021.
  6. ↑ Rao, Leena (April 10, 2014). "Lending Startup Fundbox Raises $17.5M From Khosla To Help SMBs Improve Cash Flow". TechCrunch . Retrieved May 18, 2015.
  7. ↑ Novet, Jordan (April 10, 2014). "Fundbox gets $17.5M to give small businesses money when they need it". VentureBeat . Retrieved May 18, 2015.
  8. 1 2 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.
  9. 1 2 3 Azevedo, Mary Ann. "Fundbox, a fintech focused on SMBs, raises $100M at a $1.1B valuation". TechCrunch.
  10. ↑ Cowley, Stacy. "Online Lenders Offer a Faster Lifeline for Small Businesses". The New York Times . Retrieved May 18, 2015.
  11. ↑ "Fundbox and Indeed partner to extend growth resources to small businesses". calcalistech.com. June 15, 2021. Retrieved July 25, 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.