Fundbox, Working Capital Platform — Wikipedia

Summary

Wikipedia article on Fundbox, a San Francisco working capital platform offering credit and payments to small businesses. It says Fundbox was founded in Israel in 2013 by Eyal Shinar, Tomer Michaeli and Yuval Ariav, operated in stealth for a year and opened to the public in 2014, when it announced $17.5 million in funding led by Khosla Ventures. As of November 2021 it had raised a total of $410 million at a valuation of $1.1 billion, including $100 million led by Healthcare of Ontario Pension Plan. Its main product is a revolving line of credit, with short-term funds of up to $100,000 provided through a banking partner. The article names Prashant Fuloria as chief executive.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Working capital platform

Fundbox

Founded

August 2013 (2013-08) in Israel[1]

Founders

Eyal Shinar, Tomer Michaeli, Yuval Ariav

Headquarters

San Francisco, California,

Key people

Prashant Fuloria (CEO)[2]

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.

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]

References

^ a b Ben-David, Ricky (1 December 2021). "Israeli-founded firm Fundbox becomes unicorn with fresh $100m investment". The Times of Israel.

^ "Founder Of Fundbox Steps Aside As CEO". www.pymnts.com. 2 July 2020. Retrieved 22 April 2021.

^ Lapowsky, Issie (March 19, 2015). "Startup Raises $40M to Keep Small Businesses' Cash Flowing". Wired. Retrieved May 18, 2015.

^ a b Slade, Hollie (April 10, 2014). "Fundbox Raises $17.5M Series A To Bridge Gap Between Invoices For B2B". Forbes. Retrieved July 25, 2021.

^ a b Magee, Christine (March 19, 2015). "Fundbox Raises $40 Million To Pay Invoices On Demand". TechCrunch. Retrieved July 25, 2021.

^ Rao, Leena (April 10, 2014). "Lending Startup Fundbox Raises $17.5M From Khosla To Help SMBs Improve Cash Flow". TechCrunch. Retrieved May 18, 2015.

^ Novet, Jordan (April 10, 2014). "Fundbox gets $17.5M to give small businesses money when they need it". VentureBeat. Retrieved May 18, 2015.

^ a b 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.

^ a b c Azevedo, Mary Ann (30 November 2021). "Fundbox, a fintech focused on SMBs, raises $100M at a $1.1B valuation". TechCrunch.

^ Cowley, Stacy. "Online Lenders Offer a Faster Lifeline for Small Businesses". The New York Times. Retrieved May 18, 2015.

^ "Fundbox and Indeed partner to extend growth resources to small businesses". calcalistech.com. June 15, 2021. Retrieved July 25, 2021.

File and source

File

fundbox_78e05a2b81db84d2.html

Size

78,303 bytes

SHA-256

78a3dfddbd7e617ffce01991488990dac97343aafd30ba28a47cf6d1598f2f0d

Our copy

fundbox_78e05a2b81db84d2.html

Original

en.wikipedia.org