Less than six months after raising $40 million, Fundboxtoday announced another financing round, in which it has raised $50 million. Fundbox has now raised $108 million within 18 months.
The Spark Capital Growth fund led the current round. Other investors in the current round included well-known names like actor Ashton Kutcher, Amazon.com CEO Jeff Bezos, and producer Guy Oseary. Sound Ventures and General Catalyst also participated in the round.
Fundbox operates a website that provides direct financing to small businesses. The current financing round will enable the company to continue its business and help businesses maintain a positive cash flow.
Headquartered in San Francisco and with its development offices in Tel Aviv, Fundbox bills itself as a cash flow optimization tool for small businesses by providing loans for outstanding invoice payments. The company was founded by CEO Eyal Shinar and CTO Yuval Ariav.
Shinar said, “The strong market demand for our product, coupled with the interest from the investment community, highlights that Fundbox is solving one of the most significant problems faced by the 29 million small businesses nationwide.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2015
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