Fundbox Raises Another $176 million in Funding

The San Francisco-based B2B firm unlocks working capital

Fundbox, a small-business lending fintech company, raised another $176 million in funding. New investors Allianz SE and General Catalyst, according to a report from Bloomberg. In addition to the latest round of funding, the firm also established a $150 million credit facility. The firm has now raised more than $300 million.

Although the company did not disclose the valuation of Fundbox, analysts peg it between $500 million and $1 billion.

Fundbox Bets on B2B Lending

Based in San Francisco, Fundbox acts as a payment processor and lender for small businesses. The firm uses artificial intelligence to determine borrowers’ creditworthiness. The AI platform assesses data from software and services used by a company, including their bank account, writes Bloomberg.

The company will use its latest round of capital to bolster its engineering team and build new platforms. Meanwhile, the firm plans to use its new credit facility to loan money to customers, according to COO Prashant Fuloria.

Rising Competition

In an interview with FundBox, the company discussed the swarm of competition in the B2B lending space. Firms like Brex and Square have ramped up lending in the SMB space.

“There will always be competition where people flood the same customers,” said Joseph Engelhart, Allianz X’s CIO. “What we like is the underlying technology where we think they still have an edge in extending credit to the right people.”

In addition to Allianz and General Catalyst, other investors include VC firms Khosla Ventures and Spark Capital Growth. Fundbox also counts investors like Synchrony Financial, Jeff Bezos and Ashton Kutcher.

AI investment remains hot in today’s market. Here’s a list of the top 10 hottest AI startups in 2019.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…