Fundbox Secures Another $50M To Fund SMBs

Fundbox, which focuses on cash flow for small businesses using deep data analytics, said on Thursday (Sept. 10) that it has raised $50 million in equity financing.

The latest round was led by Spark Capital Growth, with additional investments by Bezos Expeditions, which is the personal investment arm of Jeff Bezos, Sound Ventures and Entrée Capital. The company’s last funding activity came in March of this year when it raised $40 million in a Series B capital raise. The latest financing will go toward expansion efforts.

In addition to the financing activity, Fundbox said it had logged its seventh consecutive quarter of at least doubling its revenue growth sequentially (though no figures were disclosed). Also in the release, Fundbox said it had processed its 15 millionth invoice.

[bctt tweet=” Fundbox said it had logged its seventh consecutive quarter of at least doubling its revenue growth.”]

In terms of new applications, Fundbox said it had launched its second product, which is known as Credit-as-a-Service and which allows companies to “embed” Fundbox analytics directly into their workflow.

In noting already existing growth opportunities, Fundbox said that the small business arena is rife with opportunity. Citing a U.S. Bank study, the company noted that as much as 82 percent of small businesses fail as they are unable to manage cash effectively and do not have ready access to working capital.

In a statement accompanying the release detailing the financing and quarterly growth rates, Eyal Shinar, who serves as the company’s chief executive officer, said that Fundbox is “thrilled to bring on Spark Capital Growth as they understand the mindset of a hyper-growth startup, as well as the FinTech space. Spark will provide invaluable expertise as we work to realize our mission of being the go-to cash flow solution for small business, and continue building the world’s first B2B credit network.”

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