Fundbox raises $176m from Allianz X and GMO Internet
US-based B2B payments fintech Fundbox has not only raised $176 million in its Series C funding round, but it’s also managed to secure a $150 million credit facility.
The oversubscribed funding round included new investments from Allianz X, Hamilton Lane, Arbor Ventures and GMO Internet Group.
Fundbox facilitates quick risk decisions, faster payments and more flexible terms
These investors will help Fundbox offer businesses greater cash flow predictability, changing the game for businesses which rely on open credit terms to complete transactions.
“The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth,” says Fundbox CEO and founder Eyal Shinar.
He adds: “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.”
Fundbox remedies this by facilitating quick risk decisions, faster payments and more flexible terms which is what drives greater predictability for businesses’ revenue and cash flow.
For Shinar, this new investment “validates the market opportunity” Fundbox has found, supporting its own research which shows $3.1 trillion is owed to US firms today, currently locked up in accounts receivables “limbo”. He calls it the “Net Terms Economy”.
Allianz X’s CEO Nazim Cetin praises Fundbox’s originality for building the first payment and credit network in the B2B fintech space.
The network is built on top of artificial intelligence (AI) which calculates the risk decisions and quickly analyses transactional data, following Fundbox’s “heavy investments” in machine learning.
