B2B network Fundbox raises $176 million

B2B network Fundbox raises $176 million

B2B payments and credit network Fundbox has raised $176 million in growth equity funding for its Series C round.

Fundbox is aiming to transform the B2B economy by freeing up trillions of dollars stuck in accounts receivable 'limbo'. The firm applies automated machine-learning risk decisions, offering faster payments to sellers, and more flexible payment terms to the buyer.

The Series C round was oversubscribed and includes a diverse range of institutional investors, including 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, as well as participation from the major existing Fundbox investors including Khosla Ventures, General Catalyst and Spark Capital Growth.

In addition, the company also announced that it has secured a $150 million credit facility.

“The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth. If you’re a business owner and don’t know when you’re getting paid next or whether you have the funds to complete a transaction, you lose valuable time and important business opportunities,” says Eyal Shinar, founder, and CEO of Fundbox. “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.”

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