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.

Fundbox
FoundedAugust 2013 (2013-08) in Israel[1]
FoundersEyal Shinar, Tomer Michaeli, Yuval Ariav
HeadquartersSan Francisco, California
Key people
Websitefundbox.com

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.[5] Founded by Yuval Ariav, Eyal Shinar, and Tomer Michaeli in 2013,[6] it operated for a year in stealth mode before becoming available to the public in 2014.[7] After launch, it announced it had received $17.5 million in funding from investors led by Khosla Ventures.[8][9]

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.[10]

Services

Fundbox offers working capital products to small businesses.[10] Its primary offering is a revolving line of credit to manage cash flow.[11][7][6] It also offers membership-based offerings and payments which include Flex Pay, which provides additional payment options for business expenses.[10] Its services are offered online and through a tech platform[1] that integrates with QuickBooks, FreshBooks, Xero and Indeed.[12]

References
  1. 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. Trentmann, Nina (14 January 2020). "Fundbox Hires First CFO as Fintech Startup Eyes Future IPO". The Wall Street Journal. Retrieved 22 April 2021.
  4. Calvey, Mark (25 March 2021). "Fundbox taps former Visa exec for its C-suite". San Francisco Business Journal. Retrieved 22 April 2021.
  5. Lapowsky, Issie (March 19, 2015). "Startup Raises $40M to Keep Small Businesses' Cash Flowing". Wired. Retrieved May 18, 2015.
  6. Slade, Hollie (April 10, 2014). "Fundbox Raises $17.5M Series A To Bridge Gap Between Invoices For B2B". Forbes. Retrieved July 25, 2021.
  7. Magee, Christine (March 19, 2015). "Fundbox Raises $40 Million To Pay Invoices On Demand". TechCrunch. Retrieved July 25, 2021.
  8. Rao, Leena (April 10, 2014). "Lending Startup Fundbox Raises $17.5M From Khosla To Help SMBs Improve Cash Flow". TechCrunch. Retrieved May 18, 2015.
  9. Novet, Jordan (April 10, 2014). "Fundbox gets $17.5M to give small businesses money when they need it". VentureBeat. Retrieved May 18, 2015.
  10. Azevedo, Mary Ann. "Fundbox, a fintech focused on SMBs, raises $100M at a $1.1B valuation". TechCrunch.
  11. Cowley, Stacy. "Online Lenders Offer a Faster Lifeline for Small Businesses". The New York Times. Retrieved May 18, 2015.
  12. "Fundbox and Indeed partner to extend growth resources to small businesses". calcalistech.com. June 15, 2021. Retrieved July 25, 2021.
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